BTC bearish until news tomorrow.
BTCUSD Current Price: 58,260 USD
Key Levels:
• Resistance: 60,000 USD, 62,000 USD
• Support: 56,748 USD
Technical Indicators:
• Stochastic RSI: Overbought
• RSI (14): 43.40 (bearish momentum)
• CCI (20): 13.82 (neutral)
Volume: Increased during price drops, indicating strong selling pressure.
Short Position Strategy:
Entry Point: Around 60,000 USD (resistance level)
• Stop Loss: 60,500 USD (above the resistance)
• Target: 56,748 USD (support level)
Rationale:
• Resistance at 60,000 USD suggests potential for continuation of the downtrend.
• Stochastic RSI in overbought territory, indicating a possible pullback.
• RSI below 50 confirms bearish momentum.
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