BTCUSDT.P Buyers failed to hold the $75000-$77000 support zone. This breakout opens the path for sellers down to $69000-$72000, with a risk of a deeper dump into the $64000-$66000 zone.
Exactly the scenario I outlined in the previous review on Oct 30th
For an optimal entry, it's best to wait for a retest of the $74700 and $76300 levels.
🟡 Trade Plan: Short
🟢 Entry 1: $74700
🟢 Entry 2: $76300
🛑 Stop: above $78900 (high probability of a squeeze to hunt buyer stops before the drop).
🎯 Target 1: $69800 (then we watch market reaction).
🤝If the analysis was helpful 💵 — support 🚀.
Analysis based on 🧩IMA (Integrated Market Analysis) and 📊M-Levels — Institutional Interest Level (IIL).
⚠️Important: TA can fail on heavy news — fear and greed drive the price. Watch the news flow and manage risk.
Nota
Intermediate support broke instantly today, right where I expected at least some bounce from buyers. Price has now almost tapped the edge of the monthly consolidation range, which acts as the main support, and we just got the first market reaction here.I want to see price drop into the $62000-$66000 zone, where we can actually look for long reversal signs.
Entering a position on this first market reaction right now is an unjustified risk.
Better to wait for either a drop to the lower monthly support, or a clean breakout and hold above $72000.
More trading signals in my channel: t.me/well_street_levels
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More trading signals in my channel: t.me/well_street_levels
Publicações relacionadas
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.