a 1-hour chart of Bitcoin (BTC/USD) on the BITSTAMP exchange. Here’s a breakdown of the chart:
Current Price: Around $96,479.
Sell Zone: Highlighted in green between approximately $96,500 and $97,050. This is likely a resistance zone where the trader expects selling pressure.
Red Zone Below: Represents the expected price drop area, indicating a bearish outlook.
Price Action: The chart shows a sharp move up into the Sell Zone, followed by a small pullback, and then a projected drop.
Target Zone: Around $93,242, with an extended potential drop to $91,572, indicated by the arrow.
Support Zone: The yellow rectangle near $93,200 is a key support area where price might stabilize or bounce.
This chart suggests a short (sell) trade setup, anticipating a reversal from the current high back toward support levels.
Current Price: Around $96,479.
Sell Zone: Highlighted in green between approximately $96,500 and $97,050. This is likely a resistance zone where the trader expects selling pressure.
Red Zone Below: Represents the expected price drop area, indicating a bearish outlook.
Price Action: The chart shows a sharp move up into the Sell Zone, followed by a small pullback, and then a projected drop.
Target Zone: Around $93,242, with an extended potential drop to $91,572, indicated by the arrow.
Support Zone: The yellow rectangle near $93,200 is a key support area where price might stabilize or bounce.
This chart suggests a short (sell) trade setup, anticipating a reversal from the current high back toward support levels.
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t.me/+galBMpR4FpNiOGI8
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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.
Fed up with random trades and no progress? I drop real setups that make sense — not hype. If you're serious about growing, hop into the Telegram group and let’s build something real.
t.me/+galBMpR4FpNiOGI8
t.me/+galBMpR4FpNiOGI8
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.