Tactical Bitcoin Short Opportunity Amid Downtrend
While we all want Bitcoin to trade higher, as that's where the best risk-to-reward lies, in the very short term, it remains in a downtrend. As long as it trades below the October 7th high of 64,473, the downtrend is expected to continue. A more tactical bearish entry could be between 61,486 and 62,810, which are key levels below the 64,473 high. This range offers a favorable risk-to-reward ratio, with downside targets at the recent low of 58,887 and potentially 57,294. What is your take on BTC?
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This content is not directed to residents of the EU or UK. Any opinions, news, research, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice. ThinkMarkets will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
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