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Let’s move on to the Bitcoin analysis. On the daily timeframe, price has reached a very important support zone.
🗓 Daily Timeframe
After breaking below the channel support, Bitcoin started a bearish wave and has now reached a major support area between $60,000 and $62,000.
✔️ This bearish move has been extremely sharp, accompanied by strong momentum and high volume. RSI has also dropped to 15.42, reaching its previous support level.
📊 The chances of a corrective move starting from this support zone are relatively high. With price reaching this key area and RSI sitting at such an extreme level, Bitcoin could enter a period of correction or consolidation for several days.
✨ In that case, we need to keep a close eye on the market so we can be ready to open a short position if the next bearish wave begins.
💡 The first resistance level that price could pull back to is 65,828. However, we should wait for confirmation that the current bearish wave has ended before identifying the most likely correction zones.
💫 The probability of price continuing lower without any correction is relatively low. But if that happens, we can still look for short opportunities on lower timeframes by trading confirmed trigger breaks.
⛏ If you entered short positions using the triggers I mentioned in previous analyses and have not taken profits yet, this is a very good area to secure gains. As mentioned earlier, the probability of a correction starting from here is relatively high, and if the bearish move continues afterward, we can always look for new entries.
❌ Disclaimer ❌
Trading futures is highly risky and dangerous. If you're not an expert, these triggers may not be suitable for you. You should first learn risk and capital management. You can also use the educational content from this channel.
Finally, these triggers reflect my personal opinions on price action, and the market may move completely against this analysis. So, do your own research before opening any position.
Let’s move on to the Bitcoin analysis. On the daily timeframe, price has reached a very important support zone.
🗓 Daily Timeframe
After breaking below the channel support, Bitcoin started a bearish wave and has now reached a major support area between $60,000 and $62,000.
✔️ This bearish move has been extremely sharp, accompanied by strong momentum and high volume. RSI has also dropped to 15.42, reaching its previous support level.
📊 The chances of a corrective move starting from this support zone are relatively high. With price reaching this key area and RSI sitting at such an extreme level, Bitcoin could enter a period of correction or consolidation for several days.
✨ In that case, we need to keep a close eye on the market so we can be ready to open a short position if the next bearish wave begins.
💡 The first resistance level that price could pull back to is 65,828. However, we should wait for confirmation that the current bearish wave has ended before identifying the most likely correction zones.
💫 The probability of price continuing lower without any correction is relatively low. But if that happens, we can still look for short opportunities on lower timeframes by trading confirmed trigger breaks.
⛏ If you entered short positions using the triggers I mentioned in previous analyses and have not taken profits yet, this is a very good area to secure gains. As mentioned earlier, the probability of a correction starting from here is relatively high, and if the bearish move continues afterward, we can always look for new entries.
❌ Disclaimer ❌
Trading futures is highly risky and dangerous. If you're not an expert, these triggers may not be suitable for you. You should first learn risk and capital management. You can also use the educational content from this channel.
Finally, these triggers reflect my personal opinions on price action, and the market may move completely against this analysis. So, do your own research before opening any position.
💥 Don’t Miss Out!
🏆 Trade & Earn : bitunix.com/register?vipCode=TCPINT
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🤵 Business Contact: Tradecityproteam@gmail.com
🏆 Trade & Earn : bitunix.com/register?vipCode=TCPINT
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🤵 Business Contact: Tradecityproteam@gmail.com
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.
💥 Don’t Miss Out!
🏆 Trade & Earn : bitunix.com/register?vipCode=TCPINT
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🤵 Business Contact: Tradecityproteam@gmail.com
🏆 Trade & Earn : bitunix.com/register?vipCode=TCPINT
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🤵 Business Contact: Tradecityproteam@gmail.com
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.