Hello, traders! The prior market structure for BTCUSD saw a major reversal after a strong rally failed to sustain its momentum, peaking near 126000. This established a new bearish phase, with the price action since being clearly contained within a well-defined descending channel, confirming that sellers currently have the initiative.
Currently, the price is in a corrective phase within this channel. After bouncing from the lows, the auction has rallied back up and is now directly testing the descending supply line. This is a critical inflection point where the dominant downtrend could resume with force.
My scenario for the development of events is that this corrective rally will fail upon testing the channel's resistance. I expect a rejection from this supply line to confirm that sellers are still in control. In my opinion, this will trigger the next impulsive move down, which should be strong enough to break the key 108700 demand level. The take-profit is therefore set at 104250, targeting a new lower low. Manage your risk!
Currently, the price is in a corrective phase within this channel. After bouncing from the lows, the auction has rallied back up and is now directly testing the descending supply line. This is a critical inflection point where the dominant downtrend could resume with force.
My scenario for the development of events is that this corrective rally will fail upon testing the channel's resistance. I expect a rejection from this supply line to confirm that sellers are still in control. In my opinion, this will trigger the next impulsive move down, which should be strong enough to break the key 108700 demand level. The take-profit is therefore set at 104250, targeting a new lower low. Manage your risk!
交易开始
As you can see on the chart, the price jumped up against the opposite level and went down. The take-profit is therefore set at 104250, targeting a new lower low.交易手动结束
The price bounced off the resistance zone and did not break through it as we expected.
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🔶 Free telegram channel👉 t.me/heniitrading
🔥 Join our paid VIP community with Forex and Crypto signals in order to improve your trading skills, my contact 👉 t.me/henii_trader
💎 I'm open for cooperation/advertising, not interested in rebate
🔥 Join our paid VIP community with Forex and Crypto signals in order to improve your trading skills, my contact 👉 t.me/henii_trader
💎 I'm open for cooperation/advertising, not interested in rebate
免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。