BTC SHORT
Currently, BTC/USD is showing signs of bearish momentum after rejecting the 62,666 level. The price has filled a Fair Value Gap (FVG) and is retracing from the recent highs, sitting around 62,150 at the time of this post. We also have a strong Order Block (OB) around 63,000, which is acting as overhead resistance.
Key Indicators:
Price rejection at 62,666.
Overhead supply from the Order Block (OB).
FVG filled, indicating potential for a downside move.
Bearish signs as price moves below key moving averages.
Trade Idea: I'm looking to short BTC from the current levels, with targets between 61,800 - 61,500 where another FVG and support lie. A break below these levels could confirm further downside.
Stop Loss: Just above 62,700 to protect against a reversal.
Let's see how the price plays out from here!
Key Indicators:
Price rejection at 62,666.
Overhead supply from the Order Block (OB).
FVG filled, indicating potential for a downside move.
Bearish signs as price moves below key moving averages.
Trade Idea: I'm looking to short BTC from the current levels, with targets between 61,800 - 61,500 where another FVG and support lie. A break below these levels could confirm further downside.
Stop Loss: Just above 62,700 to protect against a reversal.
Let's see how the price plays out from here!
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