The current BTC/USDT setup on the 4-hour timeframe continues to reflect a bearish structure, characterized by consistent lower highs and lower lows, indicating sustained downward momentum.
The chart identifies a Sell Stop entry at $102,886.86, strategically placed just below a recent support level. This allows the short position to activate only if price confirms further bearish continuation.
The trade plan is defined as follows:
Sell Stop: $102,886.86
Stop Loss (SL): $106,060.00 – placed above the recent swing high for risk protection
Take Profit 1 (TP1): $100,146.42 – the first support zone where a bounce could occur
Take Profit 2 (TP2): $98,451.67 – targeting a deeper extension in the prevailing downtrend
The RSI Divergence Indicator shows a reading of 42.53, still above oversold territory but trending downward. Additionally, a prior bearish divergence is marked on the RSI, reinforcing downside expectations.
The overall analysis points to a continuation of the downtrend, with the market expected to break below key support if selling pressure persists. This trade setup offers a favorable risk-reward ratio, provided price action confirms the entry trigger.
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The chart identifies a Sell Stop entry at $102,886.86, strategically placed just below a recent support level. This allows the short position to activate only if price confirms further bearish continuation.
The trade plan is defined as follows:
Sell Stop: $102,886.86
Stop Loss (SL): $106,060.00 – placed above the recent swing high for risk protection
Take Profit 1 (TP1): $100,146.42 – the first support zone where a bounce could occur
Take Profit 2 (TP2): $98,451.67 – targeting a deeper extension in the prevailing downtrend
The RSI Divergence Indicator shows a reading of 42.53, still above oversold territory but trending downward. Additionally, a prior bearish divergence is marked on the RSI, reinforcing downside expectations.
The overall analysis points to a continuation of the downtrend, with the market expected to break below key support if selling pressure persists. This trade setup offers a favorable risk-reward ratio, provided price action confirms the entry trigger.
Let me know if you'd like this idea
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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.