Bitcoin / TetherUSShort
SELL BTCUSDT BELOW 55080
Market Analysis:
The current market structure for Bitcoin (BTC) is exhibiting bearish tendencies. The price is approaching a significant high level, and there are potential selling pressures near the Order Block and Point of Interest (POI). Additionally, the Fibonacci Golden Zone is a critical area to watch.
Trade Recommendation:
If the price breaks below 55,100, it could indicate a surge in selling pressure. To capitalize on this potential downtrend, consider a short position.
Trade Details:
Entry: Sell BTCUSDT below 55,080
Target: 54,400 - 54,000 - 53,800
Stop Loss: 300-500 points
Rationale:
Bearish Structure: The overall market structure suggests a bearish trend.
Order Block and POI: These areas often act as resistance levels, and a break below them could trigger a sell-off.
Fibonacci Golden Zone: This zone represents a significant price level that could offer resistance.
Liquidity: The presence of large liquidity levels at 54,400 - 54,188 could provide support for a potential price decline.
Note: This is a general recommendation based on the current market analysis. Always conduct your own research and consider your risk tolerance before making any trading decisions.
The current market structure for Bitcoin (BTC) is exhibiting bearish tendencies. The price is approaching a significant high level, and there are potential selling pressures near the Order Block and Point of Interest (POI). Additionally, the Fibonacci Golden Zone is a critical area to watch.
Trade Recommendation:
If the price breaks below 55,100, it could indicate a surge in selling pressure. To capitalize on this potential downtrend, consider a short position.
Trade Details:
Entry: Sell BTCUSDT below 55,080
Target: 54,400 - 54,000 - 53,800
Stop Loss: 300-500 points
Rationale:
Bearish Structure: The overall market structure suggests a bearish trend.
Order Block and POI: These areas often act as resistance levels, and a break below them could trigger a sell-off.
Fibonacci Golden Zone: This zone represents a significant price level that could offer resistance.
Liquidity: The presence of large liquidity levels at 54,400 - 54,188 could provide support for a potential price decline.
Note: This is a general recommendation based on the current market analysis. Always conduct your own research and consider your risk tolerance before making any trading decisions.
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.