This chart is a Bitcoin (BTC/USD) 15-minute price chart from TradingView, showing a potential short trade setup based on technical analysis. Here’s a breakdown of the key elements:
1. Resistance Zone & Short Setup
The purple highlighted area represents a resistance level around $85,358.
Price is consolidating within this resistance zone, suggesting a potential reversal.
The expected scenario involves a price rejection from this resistance, leading to a downward move.
2. Moving Averages
EMA (200, blue line) at $83,433: A long-term trend indicator suggesting a strong support zone.
EMA (30, red line) at $84,657: A short-term trend indicator, currently above the price, indicating a potential bearish setup if the price moves below it.
3. Target & Stop-Loss Le
1. Resistance Zone & Short Setup
The purple highlighted area represents a resistance level around $85,358.
Price is consolidating within this resistance zone, suggesting a potential reversal.
The expected scenario involves a price rejection from this resistance, leading to a downward move.
2. Moving Averages
EMA (200, blue line) at $83,433: A long-term trend indicator suggesting a strong support zone.
EMA (30, red line) at $84,657: A short-term trend indicator, currently above the price, indicating a potential bearish setup if the price moves below it.
3. Target & Stop-Loss Le
Trade closed: target reached
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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.
Join my telegram (COPY_TRADE)
t.me/TOP1INVEESTADMEN
Join my refrel broker link
one.exnesstrack.org/a/l1t1rf3p6v
t.me/TOP1INVEESTADMEN
Join my refrel broker link
one.exnesstrack.org/a/l1t1rf3p6v
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.