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Let’s jump into the Bitcoin analysis. The market has started a bearish move and there’s a chance this decline continues.
⌛️ 4-Hour Timeframe
After breaking below 66,117, Bitcoin picked up strong bearish momentum and dropped all the way down to the 62,824 area.
✔️ Right now, on the 4-hour timeframe, we’re seeing the first touch of this level. On a first touch, the probability of an immediate breakdown is usually lower.
✨ However, if this level does break, it will be a clear confirmation that sellers are very strong, and we could see a sharp continuation to the downside.
🔔 In that scenario, opening new positions becomes tricky. But if you already have a short position from higher levels, the risk-to-reward will look very attractive.
💥 If price gets supported once at this level, then on the next tests, we can look for a cleaner and safer short entry with a tighter stop-loss after the breakdown.
⭐ The next major support sits at 59,650, and once price reaches that area, it would be a good zone to take profits.
⚡️ Selling volume has increased nicely after the break of 66,117, and if this volume expansion continues, there’s a high chance that 62,824 will eventually break.
❌ 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 jump into the Bitcoin analysis. The market has started a bearish move and there’s a chance this decline continues.
⌛️ 4-Hour Timeframe
After breaking below 66,117, Bitcoin picked up strong bearish momentum and dropped all the way down to the 62,824 area.
✔️ Right now, on the 4-hour timeframe, we’re seeing the first touch of this level. On a first touch, the probability of an immediate breakdown is usually lower.
✨ However, if this level does break, it will be a clear confirmation that sellers are very strong, and we could see a sharp continuation to the downside.
🔔 In that scenario, opening new positions becomes tricky. But if you already have a short position from higher levels, the risk-to-reward will look very attractive.
💥 If price gets supported once at this level, then on the next tests, we can look for a cleaner and safer short entry with a tighter stop-loss after the breakdown.
⭐ The next major support sits at 59,650, and once price reaches that area, it would be a good zone to take profits.
⚡️ Selling volume has increased nicely after the break of 66,117, and if this volume expansion continues, there’s a high chance that 62,824 will eventually break.
❌ 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
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.
💥 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
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.