Bitcoin is showing signs of a potential bearish reversal after reaching resistance near $88,200. The price has been moving within a rising channel, but now it’s facing selling pressure, indicating a possible breakdown.
Trade Setup:
Entry: Near $88,200
Stop Loss: $91,000 (above resistance)
Take Profit 1: $85,000
Take Profit 2: $83,000 (major target)
A break below the channel could trigger a sell-off, pushing the price toward lower support zones. If Bitcoin fails to hold above $88,000, further downside movement is expected. Traders should watch for confirmations before entering.
📉 Bearish Bias | Risk-Reward Ratio Favorable
Trade Setup:
Entry: Near $88,200
Stop Loss: $91,000 (above resistance)
Take Profit 1: $85,000
Take Profit 2: $83,000 (major target)
A break below the channel could trigger a sell-off, pushing the price toward lower support zones. If Bitcoin fails to hold above $88,000, further downside movement is expected. Traders should watch for confirmations before entering.
📉 Bearish Bias | Risk-Reward Ratio Favorable
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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.