BTCUSDT Chart Analysis
1. Current Trend:
- Price is around 78,716 USDT
- Continuous selling pressure
- High trading volume during downtrend indicating strong selling momentum
2. Technical Points:
- Key resistance at 83,167 USDT
- Next support level at 76,000 USDT
- EMA lines showing strong downward momentum
3. Trading Signals:
- Market is in oversold condition
- 2 Early Signal Flips detected
- Caution advised for short positions due to sharp decline and potential technical rebound
Recommendations:
1. Short-term:
- Not recommended to enter long positions at current levels
- Wait for clear reversal signals
- For short positions, wait for rebound opportunities
2. Risk Management:
- Set Stop Loss at 80,000 USDT if shorting
- Take Profit target at 76,000 USDT support level
- Limit leverage to maximum 2x during high volatility
3. Mid to Long-term:
- Consider accumulating when price tests 76,000 USDT support
- Monitor trading volume for confirmation
- Prepare contingency plan if price breaks below key support levels
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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.
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.