This is a 4-hour chart of Bitcoin (BTC/USD) showing a key resistance level around $86,527 and a potential bearish move towards lower support zones.
Analysis:
Price is currently trading near the resistance zone, struggling to break above it.
A sell setup is suggested, expecting rejection from resistance.
The first target is around $78,500, with an extended downside target at $75,869 and possibly $71,580 if momentum continues.
A stop-loss level is placed above resistance at $86,527, indicating a risk management strategy.
The overall structure suggests bearish sentiment unless price breaks above resistance.
Potential Trading Plan:
📉 Bearish Scenario:
Short below resistance confirmation.
Targets at $78,500, $75,869, and $71,580.
Stop-loss above $86,527.
📈 Bullish Scenario:
A break and close above $86,527 could invalidate the bearish setup.
Analysis:
Price is currently trading near the resistance zone, struggling to break above it.
A sell setup is suggested, expecting rejection from resistance.
The first target is around $78,500, with an extended downside target at $75,869 and possibly $71,580 if momentum continues.
A stop-loss level is placed above resistance at $86,527, indicating a risk management strategy.
The overall structure suggests bearish sentiment unless price breaks above resistance.
Potential Trading Plan:
📉 Bearish Scenario:
Short below resistance confirmation.
Targets at $78,500, $75,869, and $71,580.
Stop-loss above $86,527.
📈 Bullish Scenario:
A break and close above $86,527 could invalidate the bearish setup.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.