BTC/USD 1-Hour Chart Analysis: Potential Bearish Reversal
Key Observations:
Downtrend Continuation:
The price appears to have been in a downtrend before a recent bullish correction.
The Bollinger Bands indicate that the price is approaching the upper band, which might act as resistance.
Bearish Rejection Zone:
The red zone indicates a potential sell entry area.
The price is currently within this resistance zone and is showing signs of rejection.
Projected Price Movement:
A downward move is expected if resistance holds.
The first support level is around $82,032 - $81,543.
A further decline towards $79,729 is possible.
Indicators:
Bollinger Bands suggest that price might be overextended on the upside.
A possible breakdown below the mid-band (blue moving average) could trigger a stronger bearish move.
Trading Insight:
Bearish Bias: A short position could be valid if the price fails to break above resistance.
Stop-Loss: Above $85,467 - $85,695 to invalidate the setup.
Take-Profit Targets:
First Target: Around $82,03
Conclusion:
This chart suggests a bearish reversal setup if resistance holds. A break above the resistance zone would invalidate the bearish outlook.
Key Observations:
Downtrend Continuation:
The price appears to have been in a downtrend before a recent bullish correction.
The Bollinger Bands indicate that the price is approaching the upper band, which might act as resistance.
Bearish Rejection Zone:
The red zone indicates a potential sell entry area.
The price is currently within this resistance zone and is showing signs of rejection.
Projected Price Movement:
A downward move is expected if resistance holds.
The first support level is around $82,032 - $81,543.
A further decline towards $79,729 is possible.
Indicators:
Bollinger Bands suggest that price might be overextended on the upside.
A possible breakdown below the mid-band (blue moving average) could trigger a stronger bearish move.
Trading Insight:
Bearish Bias: A short position could be valid if the price fails to break above resistance.
Stop-Loss: Above $85,467 - $85,695 to invalidate the setup.
Take-Profit Targets:
First Target: Around $82,03
Conclusion:
This chart suggests a bearish reversal setup if resistance holds. A break above the resistance zone would invalidate the bearish outlook.
Trade active
🔴 Short Position (Sell Trade Active)Entry Price: Around $83,881 (within resistance zone)
Stop-Loss (SL): $85,467 - $85,695 (above key resistance)
Trade closed: stop reached
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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.
WORLD BEST TRADING TEAM
✅XAUUSD
✅ BTCUSD
✅ EURUSD
✅ EURJPY
✅ GBPUSD
DAILY 5-6 SIGNALS
TELEGRAM CHANNEL 👇👇👇👇👇👇👇👇👇👇👇👇👇👇👇👇
t.me/xussad_gold_killer139
✅XAUUSD
✅ BTCUSD
✅ EURUSD
✅ EURJPY
✅ GBPUSD
DAILY 5-6 SIGNALS
TELEGRAM CHANNEL 👇👇👇👇👇👇👇👇👇👇👇👇👇👇👇👇
t.me/xussad_gold_killer139
Related publications
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.