It might retrace, however be careful when entering, this is just a high level overview
Trade active
BEARISH OUTLOOK ON BTCUSD Technical Analysis: This sell signal on BTCUSD is based on key technical levels. Entry at 82.935 is positioned at a strategic resistance level. The stop loss at 84.000 is placed below a significant resistance zone to protect capital, while the take profit at 81.251 targets a realistic profit objective. Risk Management: With a risk of 1% and a risk-reward ratio of 1.58, this trade offers a favorable opportunity. The potential gain is approximately 16840.0 pips. Key Levels to Watch: - Entry: 82.935 - Stop Loss: 84.000 (Resistance level) - Take Profit: 81.251 (Support target) This trade setup aligns with the current market structure and momentum. Monitor economic releases that could impact BTCUSD during this trade.
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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.