This chart is a technical analysis of the Bitcoin (BTC) / Tether (USDT) pair on the 1-hour timeframe from Binance, showing a potential short (sell) setup.
Key Points from the Chart:
Current Price: ~$117,861
Entry Line (Short Position): 117,900
Target Price: 115,200
Potential Downward Move: ~2,700 points
Support Zone Below Target: Around 107,264
Interpretation:
The chart shows a parabolic rally, followed by price consolidation near the top.
The analyst is anticipating a reversal from the 117,900 resistance zone, expecting a short-term pullback to the 115,200 support area.
The idea seems to be based on a potential double top / distribution pattern or liquidity grab above recent highs.
Trade Setup (Bearish Bias):
Sell Entry: Near 117,900
Target: 115,200
Stop Loss (not shown): Likely just above the recent high (~118,000+)
Considerations:
Confirming a reversal (e.g., bearish candlestick pattern or divergence) at 117,900 strengthens the short case.
If price breaks and holds above 118,000, the bearish thesis would likely be invalidated.
This is a short-term trading idea, not a long-term prediction.
Would you like help building a trade plan around this or analyzing a different timeframe?
Key Points from the Chart:
Current Price: ~$117,861
Entry Line (Short Position): 117,900
Target Price: 115,200
Potential Downward Move: ~2,700 points
Support Zone Below Target: Around 107,264
Interpretation:
The chart shows a parabolic rally, followed by price consolidation near the top.
The analyst is anticipating a reversal from the 117,900 resistance zone, expecting a short-term pullback to the 115,200 support area.
The idea seems to be based on a potential double top / distribution pattern or liquidity grab above recent highs.
Trade Setup (Bearish Bias):
Sell Entry: Near 117,900
Target: 115,200
Stop Loss (not shown): Likely just above the recent high (~118,000+)
Considerations:
Confirming a reversal (e.g., bearish candlestick pattern or divergence) at 117,900 strengthens the short case.
If price breaks and holds above 118,000, the bearish thesis would likely be invalidated.
This is a short-term trading idea, not a long-term prediction.
Would you like help building a trade plan around this or analyzing a different timeframe?
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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.
Join telegram free...
t.me/+16bIVCNBo0MzYzk0
Forex Gold & Crypto Signals with
detailed analysis & get consistent |
result ...
Gold Signals with peoper TP & SL for
high profit ...
t.me/+16bIVCNBo0MzYzk0
t.me/+16bIVCNBo0MzYzk0
Forex Gold & Crypto Signals with
detailed analysis & get consistent |
result ...
Gold Signals with peoper TP & SL for
high profit ...
t.me/+16bIVCNBo0MzYzk0
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.