Hey traders,
Sharing my current setup for BTC/USDT on the 1-hour timeframe based on price action and key multi-timeframe levels, as shown in image_42026a.png.
Technical Overview
Key Resistance: The price has faced a clear rejection from the confluence zone of the 1w c.e (Weekly Consequent Encroachment) and 1d c.e (Daily Consequent Encroachment) levels, which sits right around the $60,000–$60,400 area.
Current Price Action: Following the rejection at this heavy resistance, Bitcoin is breaking down locally, confirming bearish momentum in the short term.
Trade Setup
I am expecting a continued downward movement following the blue path drawn on the chart towards the target box.
Manage your risk accordingly. Safe trading!
Sharing my current setup for BTC/USDT on the 1-hour timeframe based on price action and key multi-timeframe levels, as shown in image_42026a.png.
Technical Overview
Key Resistance: The price has faced a clear rejection from the confluence zone of the 1w c.e (Weekly Consequent Encroachment) and 1d c.e (Daily Consequent Encroachment) levels, which sits right around the $60,000–$60,400 area.
Current Price Action: Following the rejection at this heavy resistance, Bitcoin is breaking down locally, confirming bearish momentum in the short term.
Trade Setup
- Entry: Current Market Price (~$59,457)
- Stop Loss (SL): $60,813.76 (Set just above the local consolidation high and the 1d c.e zone)
- Take Profit (TP): $58,184.45 (Targeting the lower liquidity pool and support level)
I am expecting a continued downward movement following the blue path drawn on the chart towards the target box.
Manage your risk accordingly. Safe trading!
Trade chiuso manualmente
BTC/USDT 1H: Position Closed – Market Reversal Signal
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.