Bitcoin is showing weakness after a lower high formation, suggesting potential for further downside. The 30-min chart highlights a clear sell entry zone with a defined take profit near $102,590.
🔹 Technical Analysis:
🔽 Lower high pattern signals potential short-term trend reversal
📏 Clean risk-to-reward setup with entry near $103,728 and TP at $102,590
⛅ Price rejected key resistance, indicating seller pressure
🔹 Fundamental Context:
🏦 Hawkish Fed commentary continues to weigh on crypto markets
📊 Risk-off sentiment amid macro uncertainty affecting BTC
💸 Reduced ETF inflows and profit-taking could trigger short-term correction
📌 Plan: Short below $103,728 with stop above $104,425. Targeting a move toward $102,590. Ideal for short-term traders.
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Note: This is not financial advice. Please conduct your own research and manage risk accordingly.
🔹 Technical Analysis:
🔽 Lower high pattern signals potential short-term trend reversal
📏 Clean risk-to-reward setup with entry near $103,728 and TP at $102,590
⛅ Price rejected key resistance, indicating seller pressure
🔹 Fundamental Context:
🏦 Hawkish Fed commentary continues to weigh on crypto markets
📊 Risk-off sentiment amid macro uncertainty affecting BTC
💸 Reduced ETF inflows and profit-taking could trigger short-term correction
📌 Plan: Short below $103,728 with stop above $104,425. Targeting a move toward $102,590. Ideal for short-term traders.
Support: If you found this helpful, like and follow for more trade ideas!
Must Support Me Share My Idea With Your Firends Mention Your Feed back Comment Section
Note: This is not financial advice. Please conduct your own research and manage risk accordingly.
Trade closed: target reached
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For More Help
Telegram @Gold_Trust_Deals
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Telegram @Gold_Trust_Deals
t.me/+rTQmlGBcbsk1YjI0
Our Channel
t.me/+rTQmlGBcbsk1YjI0
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.