This chart presents a short (sell) setup on the BTCUSDT 1-hour timeframe. Here's a detailed analysis of what it's suggesting:
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Chart Summary:
Instrument: Bitcoin / Tether (BTCUSDT)
Timeframe: 1 Hour (1h)
Trade Direction: Sell
Current Price Zone: Around $95,144
Stop-Loss: ~ $96,518 to $96,800 (depends on your risk level)
Take-Profit: ~ $92,633 to $92,622
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Key Observations:
1. Ranging Market:
Price has been consolidating between ~$94,000 and ~$96,000.
Multiple rejection wicks near the upper range (~$95,500–$95,800), suggesting resistance.
2. Sell Bias Justification:
Price is near the top of the range, possibly forming a lower high.
If price fails to break higher, this setup could target the bottom of the range near $92,600.
The idea is to catch a rejection and drop from resistance.
3. Risk-Reward Ratio (RRR):
The RR looks good visually—approximately 1:2.6.
You’re risking around $1,300 to gain around $2,500 (approx).
4. Ideal Confirmation:
For higher probability, watch for a bearish engulfing candle or rejection wick on 15m–1h timeframe near current level.
Consider volume—if it drops off during the rise, selling pressure may resume.
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Chart Summary:
Instrument: Bitcoin / Tether (BTCUSDT)
Timeframe: 1 Hour (1h)
Trade Direction: Sell
Current Price Zone: Around $95,144
Stop-Loss: ~ $96,518 to $96,800 (depends on your risk level)
Take-Profit: ~ $92,633 to $92,622
---
Key Observations:
1. Ranging Market:
Price has been consolidating between ~$94,000 and ~$96,000.
Multiple rejection wicks near the upper range (~$95,500–$95,800), suggesting resistance.
2. Sell Bias Justification:
Price is near the top of the range, possibly forming a lower high.
If price fails to break higher, this setup could target the bottom of the range near $92,600.
The idea is to catch a rejection and drop from resistance.
3. Risk-Reward Ratio (RRR):
The RR looks good visually—approximately 1:2.6.
You’re risking around $1,300 to gain around $2,500 (approx).
4. Ideal Confirmation:
For higher probability, watch for a bearish engulfing candle or rejection wick on 15m–1h timeframe near current level.
Consider volume—if it drops off during the rise, selling pressure may resume.
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.