Bitcoin Analysis... Read Caption
Hello guys, what are your opinions of Bitcoin. Let me know in comments..
My opinion is what I have shown in the chart and it This chart represents the Bitcoin (BTC/USD) 4-hour timeframe, displaying a technical analysis setup for a potential short trade.
Key Elements:
1. Support and Resistance:
Resistance Zone: Marked in gray at the top.
Support Zone: Highlighted in green at the bottom.
2. Trade Setup: Key Levels
Entry Point (EP): 105,500
Stop Loss (SL): 106,600
Take Profit 1 (TP1): 104,900
Take Profit 2 (TP2): 104,000
3. Price Action & Indicators:
The price is currently 105,500, near the proposed entry level.
The chart shows multiple failed attempts (yellow circles) to break above resistance, suggesting potential weakness.
The downward arrow indicates an expected bearish move toward the support zone.
The chart suggests a bearish outlook if the price fails to break resistance and reverses downward.
A short trade is planned from 105,400 with targets at 104,900 and 104,000.
The stop-loss at 106,600 protects against an unexpected breakout above resistance.
If the price falls further, it could test the strong support area below 102,000.
This setup is ideal for traders looking for a short-term bearish opportunity in Bitcoin.
Thanks for your support guys, kindly keep supporting me and my ideas. Have a safe trading.
Note: This is for educational purposes not financial advice.
My opinion is what I have shown in the chart and it This chart represents the Bitcoin (BTC/USD) 4-hour timeframe, displaying a technical analysis setup for a potential short trade.
Key Elements:
1. Support and Resistance:
Resistance Zone: Marked in gray at the top.
Support Zone: Highlighted in green at the bottom.
2. Trade Setup: Key Levels
Entry Point (EP): 105,500
Stop Loss (SL): 106,600
Take Profit 1 (TP1): 104,900
Take Profit 2 (TP2): 104,000
3. Price Action & Indicators:
The price is currently 105,500, near the proposed entry level.
The chart shows multiple failed attempts (yellow circles) to break above resistance, suggesting potential weakness.
The downward arrow indicates an expected bearish move toward the support zone.
The chart suggests a bearish outlook if the price fails to break resistance and reverses downward.
A short trade is planned from 105,400 with targets at 104,900 and 104,000.
The stop-loss at 106,600 protects against an unexpected breakout above resistance.
If the price falls further, it could test the strong support area below 102,000.
This setup is ideal for traders looking for a short-term bearish opportunity in Bitcoin.
Thanks for your support guys, kindly keep supporting me and my ideas. Have a safe trading.
Note: This is for educational purposes not financial advice.
Trade active
Active trades from entry pointNote
TP 1 hit successfully guys at 104800
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.
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.