Bitcoin (BTC/USD) Daily Analysis
Hello Traders 👋
📉 Further Decline Expected in Bitcoin!
1. Current Market Situation:
✅ Bitcoin is currently trading at $84,975.
✅ The price has dropped from the $100,000 - $110,000 resistance zone.
✅ It has tested the $84,000 - $85,000 support zone, but there is a high chance of further decline.
2. Key Levels to Watch:
🔴 Breakdown Level: $78,953 → A break below this could lead to further downside.
🔵 Target Level: $69,978 → A strong support zone.
🟢 Retracement Zone: $85,000 → If price gets rejected here, it could be a sell opportunity.
3. Possible Trading Strategy:
📌 Sell Entry:
• If Bitcoin closes below $78,953, a short trade opportunity arises.
• Confirmation: Strong red candle or rejection from resistance.
🎯 Target Levels:
• First Target: $75,000 (nearest support).
• Second Target: $69,978 (major support).
❌ Stop Loss:
• If entering a short position at $78,953 breakdown, an ideal stop loss is between $82,000 - $83,000.
• Avoid placing a tight stop loss at $85,000, as fake breakouts can happen.
⚠️ Risk Management:
• If Bitcoin moves above $85,000 and holds, it could attempt to go bullish again.
• Large traders might target buying near $70,000 for a potential bounce.
Conclusion:
✅ Bitcoin is showing bearish momentum and could drop further if $78,953 support breaks.
✅ A price decline towards $69,978 is likely in the coming days.
✅ Use a stop loss of $82,000 - $83,000 to avoid getting trapped in fake breakouts.
🚀 Always follow risk management and wait for market confirmation before entering trades!
#Bitcoin #CryptoTrading #BTCUpdate
📉 Further Decline Expected in Bitcoin!
1. Current Market Situation:
✅ Bitcoin is currently trading at $84,975.
✅ The price has dropped from the $100,000 - $110,000 resistance zone.
✅ It has tested the $84,000 - $85,000 support zone, but there is a high chance of further decline.
2. Key Levels to Watch:
🔴 Breakdown Level: $78,953 → A break below this could lead to further downside.
🔵 Target Level: $69,978 → A strong support zone.
🟢 Retracement Zone: $85,000 → If price gets rejected here, it could be a sell opportunity.
3. Possible Trading Strategy:
📌 Sell Entry:
• If Bitcoin closes below $78,953, a short trade opportunity arises.
• Confirmation: Strong red candle or rejection from resistance.
🎯 Target Levels:
• First Target: $75,000 (nearest support).
• Second Target: $69,978 (major support).
❌ Stop Loss:
• If entering a short position at $78,953 breakdown, an ideal stop loss is between $82,000 - $83,000.
• Avoid placing a tight stop loss at $85,000, as fake breakouts can happen.
⚠️ Risk Management:
• If Bitcoin moves above $85,000 and holds, it could attempt to go bullish again.
• Large traders might target buying near $70,000 for a potential bounce.
Conclusion:
✅ Bitcoin is showing bearish momentum and could drop further if $78,953 support breaks.
✅ A price decline towards $69,978 is likely in the coming days.
✅ Use a stop loss of $82,000 - $83,000 to avoid getting trapped in fake breakouts.
🚀 Always follow risk management and wait for market confirmation before entering trades!
#Bitcoin #CryptoTrading #BTCUpdate
🚀 Daily Trading Signals on Telegram!
We provide high-accuracy signals every day with expert analysis.
📊 Profitable & Risk-Managed Trades
🎁 Exclusive Benefits for Members
📌 Join Now: [t.me/Singnals_Provider_king]
We provide high-accuracy signals every day with expert analysis.
📊 Profitable & Risk-Managed Trades
🎁 Exclusive Benefits for Members
📌 Join Now: [t.me/Singnals_Provider_king]
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.
🚀 Daily Trading Signals on Telegram!
We provide high-accuracy signals every day with expert analysis.
📊 Profitable & Risk-Managed Trades
🎁 Exclusive Benefits for Members
📌 Join Now: [t.me/Singnals_Provider_king]
We provide high-accuracy signals every day with expert analysis.
📊 Profitable & Risk-Managed Trades
🎁 Exclusive Benefits for Members
📌 Join Now: [t.me/Singnals_Provider_king]
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.