BITCOIN (BTCUSD) Technical Analysis:
Bitcoin's 4-hour timeframe is presenting a promising short trade opportunity. The chart signals a potential pullback after testing key resistance levels. This setup is particularly appealing for traders leveraging 5x to 10x positions.
Trade Summary:
Entry Point: $76,549.8
Stop Loss (SL): $76,885.1
Targets:
TP1: $76,135.5
TP2: $75,465.0
TP3: $74,794.5
TP4: $74,380.2
Key Insights:
Leverage Consideration:
5x Leverage: For risk-averse traders aiming for steady returns.
10x Leverage: Suitable for aggressive traders ready to maximize potential gains while managing risk.
Recommendation:
Conclusion:
This Bitcoin short trade setup offers an excellent opportunity for traders looking to capitalize on a pullback scenario. Leverage wisely, adhere to risk management, and let the strategy play out for maximum gains.
Bitcoin's 4-hour timeframe is presenting a promising short trade opportunity. The chart signals a potential pullback after testing key resistance levels. This setup is particularly appealing for traders leveraging 5x to 10x positions.
Trade Summary:
Entry Point: $76,549.8
Stop Loss (SL): $76,885.1
Targets:
TP1: $76,135.5
TP2: $75,465.0
TP3: $74,794.5
TP4: $74,380.2
Key Insights:
- Trendline Breach: BTC's price action is testing a steep upward trendline, hinting at a potential reversal.
- Momentum Shift: Weakening bullish momentum on the higher timeframe adds confidence to the short trade.
- Risk-Reward Balance: Tight stop loss above resistance ensures a favorable risk-to-reward ratio.
Leverage Consideration:
5x Leverage: For risk-averse traders aiming for steady returns.
10x Leverage: Suitable for aggressive traders ready to maximize potential gains while managing risk.
Recommendation:
- Execution: Enter short positions near the marked entry zone with targets aligned with the support levels.
- Stop Placement: Keep the stop loss firm above the $76,885.1 resistance level to avoid unnecessary risks.
- Trend Monitoring: Watch for sudden market sentiment changes that may invalidate the pullback.
Conclusion:
This Bitcoin short trade setup offers an excellent opportunity for traders looking to capitalize on a pullback scenario. Leverage wisely, adhere to risk management, and let the strategy play out for maximum gains.
Order cancelled
Stoploss hit, trade cancelled.
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- Accurate Entry, Stoploss and Take Profit levels
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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.
- Supercharge your trading with > Risological.com
- 30-Day Money Back Guarantee!
- Accurate Entry, Stoploss and Take Profit levels
- NO Repaint
- Detects Sideways Market
- Limited time discount available. HURRY!
- 30-Day Money Back Guarantee!
- Accurate Entry, Stoploss and Take Profit levels
- NO Repaint
- Detects Sideways Market
- Limited time discount available. HURRY!
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.