Trade Analysis (BTCUSDT - 15M Chart)
1. Market Structure:
The chart shows a potential double top forming near the $84,500 resistance zone.
The price has tested this area multiple times, indicating strong supply.
The market structure suggests a liquidity grab in the green resistance zone before a possible reversal.
2. Key Levels:https://www.tradingview.com/x/9mTnbj4Q/
Resistance Zone (Green Box): Around $84,500 (high liquidity area).
Support Zone (Orange Line): Around $81,000 (previous demand zone).
Low of Interest: Around $76,500 (potential deeper liquidity pool if breakdown happens).
3. Price Action & SFP Setup:
The price might spike above the resistance to trap breakout traders and trigger stop-losses.
If it fails to hold above $84,500 and closes back below the resistance, it confirms a Swing Failure Pattern (SFP).
A rejection at this level could signal a short entry opportunity.
4. RSI & Volume:
RSI Divergence: The RSI is showing signs of bearish divergence, suggesting momentum is weakening.
Volume Analysis: The previous highs had a volume spike, but the latest rally has lower volume, indicating exhaustion.
5. Trade Plan:
Entry: Look for bearish reversal patterns (e.g., bearish engulfing, rejection wicks) around $84,500-$85,000.
Stop-Loss: Above the liquidity grab zone (~$85,500).
Take Profit:
TP1: $81,000 (orange support line).
TP2: $76,500 (previous low).
Risk-Reward Ratio: Targeting at least 1:3 RR.
6. Conclusion:
Short Bias: Favoring shorts if price rejects $84,500-$85,000.
Invalidation: If BTC breaks and holds above $85,500.
Confirmation: Wait for a strong bearish reaction at resistance before entering.
1. Market Structure:
The chart shows a potential double top forming near the $84,500 resistance zone.
The price has tested this area multiple times, indicating strong supply.
The market structure suggests a liquidity grab in the green resistance zone before a possible reversal.
2. Key Levels:https://www.tradingview.com/x/9mTnbj4Q/
Resistance Zone (Green Box): Around $84,500 (high liquidity area).
Support Zone (Orange Line): Around $81,000 (previous demand zone).
Low of Interest: Around $76,500 (potential deeper liquidity pool if breakdown happens).
3. Price Action & SFP Setup:
The price might spike above the resistance to trap breakout traders and trigger stop-losses.
If it fails to hold above $84,500 and closes back below the resistance, it confirms a Swing Failure Pattern (SFP).
A rejection at this level could signal a short entry opportunity.
4. RSI & Volume:
RSI Divergence: The RSI is showing signs of bearish divergence, suggesting momentum is weakening.
Volume Analysis: The previous highs had a volume spike, but the latest rally has lower volume, indicating exhaustion.
5. Trade Plan:
Entry: Look for bearish reversal patterns (e.g., bearish engulfing, rejection wicks) around $84,500-$85,000.
Stop-Loss: Above the liquidity grab zone (~$85,500).
Take Profit:
TP1: $81,000 (orange support line).
TP2: $76,500 (previous low).
Risk-Reward Ratio: Targeting at least 1:3 RR.
6. Conclusion:
Short Bias: Favoring shorts if price rejects $84,500-$85,000.
Invalidation: If BTC breaks and holds above $85,500.
Confirmation: Wait for a strong bearish reaction at resistance before entering.
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.