BTCUSDT at 4h resistance and likely to pullback towards 61k
Here is a short trade idea setup. I have taken this short trade with very tight stop loss. along with small position size. The price has moved up since we closed our long. It has now reached a key resistance level which was the level from where the price dropped last time. Therefore, this level will present significant resistance here and it will cause the price to pullback here. It has now reached a key resistance level which was the level from where the price dropped last time. Therefore, this level will present significant resistance here and it will cause the price to pullback here.
Note
The price got rejected from the 4h resistance 4HR1 and landed on 4h support 4HS1. I closed this trade and now I will look for a long setup from here. I will share the setup in the next post.
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.
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.