Bitcoin / TetherUSShort
BTC/USDT 1H: Bears Take Control – Targeting $102K Next!
BTC/USDT 1H Chart Analysis
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Current Market Structure:
Trade Setup (Confidence 8/10):
Market Maker Intent:
Distribution Phase in Play, suggesting accumulation around 102K-103K.
Recommendation:
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Current Market Structure:
- Price: $104,560, facing rejection at premium zone (106-107K).
- Bearish Bias: Failed breakout, with hidden bearish divergence on RSI (48.74).
- Smart Money Activity: Clear distribution pattern at premium, likely targeting PCL (Previous Consolidation Low).
Trade Setup (Confidence 8/10):
- Short Entry: Current price to 105K.
- Targets:
- T1: 103.2K (PCL).
- T2: 102K (Equilibrium Zone).
- Stop Loss: Above 106.2K (premium rejection).
- Risk Score: 7/10 (strong R:R setup).
Market Maker Intent:
Distribution Phase in Play, suggesting accumulation around 102K-103K.
- Volume Profile & RSI Confirming the bearish move.
- Rejection from premium zone needs confirmation for ideal entry.
Recommendation:
- Short positions favorable from 104.5K-105K.
- Wait for rejection confirmation before entering.
- Manage risk accordingly—position sizing is key.
- Confidence Level: 8/10 for bearish continuation.
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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.