BTCUSD (4H Timeframe) Analysis
Market Structure:
Resistance Zone: The price is currently testing a key resistance area, showing signs of selling pressure.
Bearish Engulfing Area: A bearish engulfing candlestick pattern has formed near the resistance level, indicating potential downside movement.
Forecast:
Sell Opportunity: The presence of a bearish engulfing pattern at resistance suggests a possible rejection, signaling a short-term sell setup.
Key Levels to Watch:
Entry Zone: Near the resistance area after bearish confirmation.
Risk Management:
Stop Loss: Above the resistance zone or the high of the bearish engulfing candle to limit risk.
Take Profit Zones: Target the nearest support levels or Fibonacci retracement areas for downside targets.
Market Sentiment:
Bearish Bias: Selling pressure at resistance highlights a potential reversal, favoring short positions as long as the price stays below the resistance zone.
Market Structure:
Resistance Zone: The price is currently testing a key resistance area, showing signs of selling pressure.
Bearish Engulfing Area: A bearish engulfing candlestick pattern has formed near the resistance level, indicating potential downside movement.
Forecast:
Sell Opportunity: The presence of a bearish engulfing pattern at resistance suggests a possible rejection, signaling a short-term sell setup.
Key Levels to Watch:
Entry Zone: Near the resistance area after bearish confirmation.
Risk Management:
Stop Loss: Above the resistance zone or the high of the bearish engulfing candle to limit risk.
Take Profit Zones: Target the nearest support levels or Fibonacci retracement areas for downside targets.
Market Sentiment:
Bearish Bias: Selling pressure at resistance highlights a potential reversal, favoring short positions as long as the price stays below the resistance zone.
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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.
✅ Discover my trading strategies signals educational resources 👇
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✅Join my recommended broker World best broker 👇
one.exnesstrack.net/a/negkxt6hhx
✅ Facebook 👇
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t.me/+COYsInxWoMg1OTg8
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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.