Bitcoin (BTC/USD) has broken out of its ascending channel and is now trading within a clear downtrend on the 2-hour timeframe. The price is consolidating below a key resistance zone, suggesting a potential continuation to the downside. Sellers have maintained control, and bearish momentum appears strong as BTC/USD approaches the support zones outlined.
Trade Setup: Sell BTC/USD
Entry Zone: Around $93,400 - $93,500
Take Profit Levels:
$92,500
$91,800
$91,000
Stop Loss: Above $94,800
This setup favors bearish momentum; however, monitor closely for any signs of reversal or breakout above resistance. Proper risk management is key. Let me know if you'd like further tweaks!
Trade Setup: Sell BTC/USD
Entry Zone: Around $93,400 - $93,500
Take Profit Levels:
$92,500
$91,800
$91,000
Stop Loss: Above $94,800
This setup favors bearish momentum; however, monitor closely for any signs of reversal or breakout above resistance. Proper risk management is key. Let me know if you'd like further tweaks!
Trade closed: target reached
TARGET HIT
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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.