BitcoinShort
On the 4-hour timeframe, Bitcoin's
On the 4-hour timeframe, Bitcoin's (BTC) current price of around $98,600 aligns with a potential short-selling setup targeting $92,000. Here's a breakdown:
1. Resistance: BTC faces selling pressure near $99,000-$100,000, a strong resistance zone established during its recent consolidation phase.
2. Momentum Indicators: Many technical signals indicate overbought conditions, suggesting a potential retracement.
3. Support: $92,000 represents a key support level, coinciding with previous buying interest and technical levels, making it a logical downside target.
This trade would align with a risk-off strategy in the current environment, provided the trend sustains its bearish bias. Ensure stop-loss levels are set just above the resistance zone (e.g., $100,200) to mitigate risk.BTCUSD
1. Resistance: BTC faces selling pressure near $99,000-$100,000, a strong resistance zone established during its recent consolidation phase.
2. Momentum Indicators: Many technical signals indicate overbought conditions, suggesting a potential retracement.
3. Support: $92,000 represents a key support level, coinciding with previous buying interest and technical levels, making it a logical downside target.
This trade would align with a risk-off strategy in the current environment, provided the trend sustains its bearish bias. Ensure stop-loss levels are set just above the resistance zone (e.g., $100,200) to mitigate risk.
BTCUSD 
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