may be possible to take a short bearish power could be strong as soon, Market Sentiment: Recent analyses have highlighted potential bearish scenarios for Bitcoin, with some analysts warning of a possible drop to $73,000 due to weak support at key technical levels.
Investor Behavior: The current bear market has significantly impacted newcomers, with many locking in large losses. This trend is exacerbated by leveraged traders facing substantial daily losses
Given the prevailing short-term downtrend and the potential for further declines, initiating a short position in Bitcoin could be considered. However, it's crucial to implement strict risk management strategies, such as setting stop-loss orders, to mitigate potential losses. Additionally, staying informed about market developments and monitoring key support and resistance levels can aid in making more informed trading decisions.
Investor Behavior: The current bear market has significantly impacted newcomers, with many locking in large losses. This trend is exacerbated by leveraged traders facing substantial daily losses
Given the prevailing short-term downtrend and the potential for further declines, initiating a short position in Bitcoin could be considered. However, it's crucial to implement strict risk management strategies, such as setting stop-loss orders, to mitigate potential losses. Additionally, staying informed about market developments and monitoring key support and resistance levels can aid in making more informed trading decisions.
Trade closed: stop reached
chart is running after sl hunt
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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.