Key Elements:
1. Red Zone (Resistance Area):
This is a supply zone or resistance area, indicating selling pressure between $94,000–$94,500.
Labeled "sl" – this is likely the Stop Loss level, which means if price breaks above it, the bearish idea may be invalidated.
2. Bearish Arrow:
Suggests that the trader expects the price to reject the resistance area and move downward.
This is a sell/short signal.
3. Green Zones (TP1, TP2, TP3):
These are the Take Profit levels for the short trade:
TP1: Around $93,000
TP2: Around $91,800
TP3: Around $90,000
4. Trendlines:
A red descending trendline meets the resistance zone, adding confluence.
Green ascending trendline (broken in the plan) may have been a rising support, indicating a trend shift.
---
Trade Idea Summary:
Strategy Type: Short (Sell) Setup
Entry: Near $94,000–$94,300 (resistance area)
Stop Loss (SL): Slightly above resistance (~$94,500+)
Target Profits (TP):
TP1: $93,000
TP2: $91,800
TP3: $90,000
---
Purpose:
This is a classic supply zone rejection setup, with expectations that BTC will retrace after hitting resistance. The trader is betting on a short-term reversal.
Would you like help planning an entry/exit for this setup or running a risk/reward calculation?
1. Red Zone (Resistance Area):
This is a supply zone or resistance area, indicating selling pressure between $94,000–$94,500.
Labeled "sl" – this is likely the Stop Loss level, which means if price breaks above it, the bearish idea may be invalidated.
2. Bearish Arrow:
Suggests that the trader expects the price to reject the resistance area and move downward.
This is a sell/short signal.
3. Green Zones (TP1, TP2, TP3):
These are the Take Profit levels for the short trade:
TP1: Around $93,000
TP2: Around $91,800
TP3: Around $90,000
4. Trendlines:
A red descending trendline meets the resistance zone, adding confluence.
Green ascending trendline (broken in the plan) may have been a rising support, indicating a trend shift.
---
Trade Idea Summary:
Strategy Type: Short (Sell) Setup
Entry: Near $94,000–$94,300 (resistance area)
Stop Loss (SL): Slightly above resistance (~$94,500+)
Target Profits (TP):
TP1: $93,000
TP2: $91,800
TP3: $90,000
---
Purpose:
This is a classic supply zone rejection setup, with expectations that BTC will retrace after hitting resistance. The trader is betting on a short-term reversal.
Would you like help planning an entry/exit for this setup or running a risk/reward calculation?
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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 Signals Channel here 🤝
✅ XAUUSD Gold
✅ BTC & other coins
✅ EURUSD
✅ USDJPY
✅ GBPUSD
✅ ETH USD
Telegram channel 👇👇
t.me/+DLcFADZUck9jYmVk
✅ XAUUSD Gold
✅ BTC & other coins
✅ EURUSD
✅ USDJPY
✅ GBPUSD
✅ ETH USD
Telegram channel 👇👇
t.me/+DLcFADZUck9jYmVk
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.