🧨
🔍 Chart Analysis:
🟢 Recent Price Action:
Bitcoin formed a double top pattern near the Recent All-Time High (ATH) 📈 — a strong bearish signal 🔔.
A trendline break occurred right after the second peak, confirming potential weakness ⚠️.
🟠 Supply Zone:
Price re-entered a previous supply zone (resistance area) and failed to hold above it 🧱 — indicating sellers are active again.
🔵 EMA 70 (Blue Line):
The price has dropped below the 70 EMA, signaling momentum shift from bullish to bearish 📉.
🔴 STOP LOSS ZONE:
Positioned above 110,555 🚫 — risk level for this short setup if bulls reclaim control.
🟡 Bearish Pathway (Expected Move):
Price may retest the broken zone 🔁.
Followed by a sharp drop to the 1st support near $101,503 🎯.
Confirmed by large bearish volume spikes 📊.
💥 Trade Idea:
Entry: Near 106,000 (on retest of supply zone).
Stop Loss: Above 110,555 🔺.
Target: $101,500 🎯.
Risk/Reward Ratio: 🔥 Favorable setup for swing short sellers!
📛 Pattern Breakdown:
⚠️ Double Top = Reversal Signal.
🔻 Trendline Break = Shift in Market Structure.
🧊 Supply Zone Rejection = Bearish Confirmation.
🔍 Chart Analysis:
🟢 Recent Price Action:
Bitcoin formed a double top pattern near the Recent All-Time High (ATH) 📈 — a strong bearish signal 🔔.
A trendline break occurred right after the second peak, confirming potential weakness ⚠️.
🟠 Supply Zone:
Price re-entered a previous supply zone (resistance area) and failed to hold above it 🧱 — indicating sellers are active again.
🔵 EMA 70 (Blue Line):
The price has dropped below the 70 EMA, signaling momentum shift from bullish to bearish 📉.
🔴 STOP LOSS ZONE:
Positioned above 110,555 🚫 — risk level for this short setup if bulls reclaim control.
🟡 Bearish Pathway (Expected Move):
Price may retest the broken zone 🔁.
Followed by a sharp drop to the 1st support near $101,503 🎯.
Confirmed by large bearish volume spikes 📊.
💥 Trade Idea:
Entry: Near 106,000 (on retest of supply zone).
Stop Loss: Above 110,555 🔺.
Target: $101,500 🎯.
Risk/Reward Ratio: 🔥 Favorable setup for swing short sellers!
📛 Pattern Breakdown:
⚠️ Double Top = Reversal Signal.
🔻 Trendline Break = Shift in Market Structure.
🧊 Supply Zone Rejection = Bearish Confirmation.
Trade active
almost 60% target achieved 500+pips profit bookedNote
still on tp1
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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.
Related publications
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.