Bitcoin Pullback Strategy Analysis
Updated
HELLO GUYS.
Current Trend: Bitcoin is currently in an upward channel, but showing signs of potential consolidation or pullback.
Key Support Zone: The first highlighted blue zone, which is around $85,500, serves as the immediate support. A break below this level could trigger a bearish move.
Short Position Opportunity: If the price breaks below the support zone, wait for a pullback into the previous support (now resistance) to enter a short position.
Target Zones: The next potential target zone for this short position lies around the lower support near $82,900.
Risk Management: Monitor for a failed breakdown and reclaim of support, as this could invalidate the short setup.
Current Trend: Bitcoin is currently in an upward channel, but showing signs of potential consolidation or pullback.
Key Support Zone: The first highlighted blue zone, which is around $85,500, serves as the immediate support. A break below this level could trigger a bearish move.
Short Position Opportunity: If the price breaks below the support zone, wait for a pullback into the previous support (now resistance) to enter a short position.
Target Zones: The next potential target zone for this short position lies around the lower support near $82,900.
Risk Management: Monitor for a failed breakdown and reclaim of support, as this could invalidate the short setup.
Trade closed: stop reached
it was failed
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