🔻 Bitcoin Short Trade Setup 🔻
Bitcoin is currently facing strong resistance around the $98,800 - $100,000 zone. The price has rejected this level multiple times in the past, making it an ideal area for a short position.
📉 Trade Setup:
🔹 Entry: Around $98,850
🔹 Stop Loss: Above $100,160 (key resistance)
🔹 Take Profit: $96,087 (previous support level)
🔹 Risk/Reward Ratio: ~2:1
🧐 Why Short?
✅ Strong resistance zone
✅ Previous rejections at this level
✅ Potential pullback after recent rally
If price breaks above resistance, this trade setup becomes invalid. Trade with caution and manage your risk accordingly!
What do you think? Let me know in the comments! 📊💬
Bitcoin is currently facing strong resistance around the $98,800 - $100,000 zone. The price has rejected this level multiple times in the past, making it an ideal area for a short position.
📉 Trade Setup:
🔹 Entry: Around $98,850
🔹 Stop Loss: Above $100,160 (key resistance)
🔹 Take Profit: $96,087 (previous support level)
🔹 Risk/Reward Ratio: ~2:1
🧐 Why Short?
✅ Strong resistance zone
✅ Previous rejections at this level
✅ Potential pullback after recent rally
If price breaks above resistance, this trade setup becomes invalid. Trade with caution and manage your risk accordingly!
What do you think? Let me know in the comments! 📊💬
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.