Hello dear traders,
Here’s the latest update on the Bitcoin chart along with potential reversal points and zones. If there are any changes this week, I will update the chart again and present it to you.
Market Status
Currently, we are in a daily descending channel, and the low point is below our expectations.
Key Points for Analysis
Exit Points for Trades or Short Positions (4-Hour):
Resistance: 86,897.25
Daily Liquidity: 102,500.01
Ideal Time to Sell with Confirmation: 105,250
These resistance points provide us with the best selling opportunities, but it's essential to pay attention to the necessary confirmations. A candlestick pattern is one of the best confirmations to consider.
Order Flow (4-Hour): 71,632.95 and 66,835
This temporary buying zone can offer a good profit opportunity during this downturn and is suitable for short-term buying.
Daily Support: 69,388.62
If we receive confirmation, this level will serve as a strong support.
This analysis has been drawn up simply and clearly for your convenience, dear followers.
Wishing you all success!
Fereydoon Bahrami
A retail trader in the Wall Street Trading Center (Forex)
Risk Disclosure:
Trading in the cryptocurrency market is risky due to high price volatility. This analysis is solely my personal opinion and should not be considered financial advice. Please do your own research. You are responsible for any profits or losses resulting from this analysis.
Here’s the latest update on the Bitcoin chart along with potential reversal points and zones. If there are any changes this week, I will update the chart again and present it to you.
Market Status
Currently, we are in a daily descending channel, and the low point is below our expectations.
Key Points for Analysis
Exit Points for Trades or Short Positions (4-Hour):
Resistance: 86,897.25
Daily Liquidity: 102,500.01
Ideal Time to Sell with Confirmation: 105,250
These resistance points provide us with the best selling opportunities, but it's essential to pay attention to the necessary confirmations. A candlestick pattern is one of the best confirmations to consider.
Order Flow (4-Hour): 71,632.95 and 66,835
This temporary buying zone can offer a good profit opportunity during this downturn and is suitable for short-term buying.
Daily Support: 69,388.62
If we receive confirmation, this level will serve as a strong support.
This analysis has been drawn up simply and clearly for your convenience, dear followers.
Wishing you all success!
Fereydoon Bahrami
A retail trader in the Wall Street Trading Center (Forex)
Risk Disclosure:
Trading in the cryptocurrency market is risky due to high price volatility. This analysis is solely my personal opinion and should not be considered financial advice. Please do your own research. You are responsible for any profits or losses resulting from this analysis.
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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.
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.