BTC recently broke out of an accumulation range, highlighted by the yellow box on the chart. Following the breakout, price surged and tapped into a nearby supply zone, showing signs of rejection. Current movement suggests a potential shift in momentum to the downside. We are currently monitoring a potential short setup on BTCUSD after price tapped into a clear supply zone around the 94,600 to 94,800 level.
Trade Idea Summary:
- Bias: Sell/Short
- Stop Loss: 95,000
- Take Profit: 88,830
- Risk to Reward Ratio: 1 to 2.57
Key Levels:
- High: 94,577
- Zone of interest: 94,600 – 94,800
- Support and target: 88,827
- Previous range low: 84,016
Notes:
This setup is based on a bearish reaction at the supply zone. A clean break of the 93,000 support level would provide further confirmation. Intraday volatility is high, so manage risk carefully.
Trade Idea Summary:
- Bias: Sell/Short
- Stop Loss: 95,000
- Take Profit: 88,830
- Risk to Reward Ratio: 1 to 2.57
Key Levels:
- High: 94,577
- Zone of interest: 94,600 – 94,800
- Support and target: 88,827
- Previous range low: 84,016
Notes:
This setup is based on a bearish reaction at the supply zone. A clean break of the 93,000 support level would provide further confirmation. Intraday volatility is high, so manage risk carefully.
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.
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.