BTCUSD (Bitcoin vs. US Dollar) identifies important market behaviors:
Downtrend Analysis:
Current Pattern: BTCUSD failed to create a new higher high and has formed two new lower lows.
Liquidity Grab: The price retested the previous resistance zone to take liquidity.
Support Zone: Price is currently in a support zone.
Bearish Scenario:
Action: If the support zone breaks, look for a sell opportunity after a retest.
Final Take Profit (TP): $41,935.
Bullish Scenario:
Entry: If the price hits the support zone and holds, consider buying.
First TP: $53,495.
Disclaimer: This analysis is for educational purposes and not financial advice.
Downtrend Analysis:
Current Pattern: BTCUSD failed to create a new higher high and has formed two new lower lows.
Liquidity Grab: The price retested the previous resistance zone to take liquidity.
Support Zone: Price is currently in a support zone.
Bearish Scenario:
Action: If the support zone breaks, look for a sell opportunity after a retest.
Final Take Profit (TP): $41,935.
Bullish Scenario:
Entry: If the price hits the support zone and holds, consider buying.
First TP: $53,495.
Disclaimer: This analysis is for educational purposes and not financial advice.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.