Currently, BTC/USD is approaching a key supply zone between $107,800 – $108,600, where price previously faced strong rejection. My expectation is that price will react similarly upon retest.
🧠 Trade Idea:
I'm anticipating a fakeout or liquidity grab above the zone, followed by a lower high formation.
Once this confirmation occurs, I’ll be looking for a short entry, targeting the major demand zone below, around $100,800 – $101,600.
✅ Confluences:
Previous price rejection from this same resistance zone.
Clean bearish imbalance below that still needs filling.
Lower timeframes showing signs of exhaustion as we approach resistance.
🕵️♂️ Entry Trigger:
I’ll wait for bearish price action within or just above the yellow resistance zone (e.g. bearish engulfing, lower high, or break of structure).
📉 Target:
TP Zone: $101,000 area
SL: Just above the fakeout zone to manage risk effectively.
🧠 Trade Idea:
I'm anticipating a fakeout or liquidity grab above the zone, followed by a lower high formation.
Once this confirmation occurs, I’ll be looking for a short entry, targeting the major demand zone below, around $100,800 – $101,600.
✅ Confluences:
Previous price rejection from this same resistance zone.
Clean bearish imbalance below that still needs filling.
Lower timeframes showing signs of exhaustion as we approach resistance.
🕵️♂️ Entry Trigger:
I’ll wait for bearish price action within or just above the yellow resistance zone (e.g. bearish engulfing, lower high, or break of structure).
📉 Target:
TP Zone: $101,000 area
SL: Just above the fakeout zone to manage risk effectively.
Trade active
DONE
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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.