BTCUSD Current Price: 58,260 USD
Key Levels:
• Resistance: 60,000 USD, 62,000 USD
• Support: 56,748 USD
Technical Indicators:
• Stochastic RSI: Overbought
• RSI (14): 43.40 (bearish momentum)
• CCI (20): 13.82 (neutral)
Volume: Increased during price drops, indicating strong selling pressure.
Short Position Strategy:
Entry Point: Around 60,000 USD (resistance level)
• Stop Loss: 60,500 USD (above the resistance)
• Target: 56,748 USD (support level)
Rationale:
• Resistance at 60,000 USD suggests potential for continuation of the downtrend.
• Stochastic RSI in overbought territory, indicating a possible pullback.
• RSI below 50 confirms bearish momentum.
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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.