📉 Bitcoin Breakdown – Bears Taking Control? 📉
🔻 Technical Analysis Overview:
Bitcoin (BTC/USD) has formed an Inverse Flag & Pole Pattern, signaling a potential downward continuation! After a failed breakout attempt, BTC is showing signs of weakness, with sellers pushing price lower.
📍 Key Insights:
⚡ Pattern: Inverse Flag & Pole – a bearish continuation structure.
📉 Breakdown Confirmed: BTC is trading below key support levels.
📊 200 MA Resistance: Price rejected this level, reinforcing downside pressure.
🔻 Target Area: Eyeing $73,000 as the next key level!
🎯 Trade Setup:
🔴 Entry: Sell after confirmed breakdown.
🟢 Stop Loss: Above recent highs to protect capital.
🎯 Target: $73,000 – key support and potential take-profit zone.
⚠ Risk Management: Always wait for a breakdown retest before entering to avoid fakeouts!
🔥 Final Thoughts:
With BTC showing strong bearish momentum, a drop toward $73,000 looks highly probable. Watch for price action confirmation before executing trades!
📢 Are you trading BTC right now? Share your insights in the comments!
🔻 Technical Analysis Overview:
Bitcoin (BTC/USD) has formed an Inverse Flag & Pole Pattern, signaling a potential downward continuation! After a failed breakout attempt, BTC is showing signs of weakness, with sellers pushing price lower.
📍 Key Insights:
⚡ Pattern: Inverse Flag & Pole – a bearish continuation structure.
📉 Breakdown Confirmed: BTC is trading below key support levels.
📊 200 MA Resistance: Price rejected this level, reinforcing downside pressure.
🔻 Target Area: Eyeing $73,000 as the next key level!
🎯 Trade Setup:
🔴 Entry: Sell after confirmed breakdown.
🟢 Stop Loss: Above recent highs to protect capital.
🎯 Target: $73,000 – key support and potential take-profit zone.
⚠ Risk Management: Always wait for a breakdown retest before entering to avoid fakeouts!
🔥 Final Thoughts:
With BTC showing strong bearish momentum, a drop toward $73,000 looks highly probable. Watch for price action confirmation before executing trades!
📢 Are you trading BTC right now? Share your insights in the comments!
Trade active
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Who's riding this wave with us? Drop your updates in the comments! 👇📊
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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.
Join My Telegram Channel Now
t.me/JosEliteTrader
📢 Get Daily High-Accuracy Signals for Forex, Gold & Crypto
💰 Consistent Profits | Real-Time Alerts | Pro Strategies
t.me/JosEliteTrader
📢 Get Daily High-Accuracy Signals for Forex, Gold & Crypto
💰 Consistent Profits | Real-Time Alerts | Pro Strategies
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.