Bitcoin (BTC/USD) shows a sell zone level around 82,175, which has recently been tested. The price reached this level and formed a significant resistance at 88,483, suggesting that Bitcoin could be facing downward pressure if it fails to break above this resistance.
The blue arrows indicate a potential scenario where the price could rise towards the sell zone and then reverse. The chart suggests that the price may experience a pullback as it moves lower toward the target area near 74,000.
the sell zone, where selling pressure is likely to be strong. This could be an ideal region to enter short positions, especially if Bitcoin rises to this area and shows signs of rejection. Traders may also look to add layers (additional short positions) as the price approaches this zone.
Overall, the chart anticipates a bearish correction after Bitcoin hits the sell zone, with a target move toward 74,000. Watching for rejection at the sell zone is key to entering a short position with confidence.
The blue arrows indicate a potential scenario where the price could rise towards the sell zone and then reverse. The chart suggests that the price may experience a pullback as it moves lower toward the target area near 74,000.
the sell zone, where selling pressure is likely to be strong. This could be an ideal region to enter short positions, especially if Bitcoin rises to this area and shows signs of rejection. Traders may also look to add layers (additional short positions) as the price approaches this zone.
Overall, the chart anticipates a bearish correction after Bitcoin hits the sell zone, with a target move toward 74,000. Watching for rejection at the sell zone is key to entering a short position with confidence.
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Telegram channel Link here
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Recommended best broker Exness Partner link
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t.me/+QnnqTEDwgIcxYTNk
Recommended best broker Exness Partner link
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.