Pair: BTCUSDT (Bitcoin vs. Tether)
Timeframe: 15 minutes (15m)
Overall Trend: A strong downtrend is visible. Price is consistently making lower highs and lower lows.
Key Levels: Support and resistance levels are marked (red and green lines).
Level Analysis:
Resistances:
Approximately $86,000
$84,958.11
Supports:
$82,988.67 (close to the current price)
$82,192.59
Indicators:
No specific indicators are visible in the image to provide a more in-depth analysis.
Recommendation:
Given the strong downtrend and the current price position near the support level of $82,988.67, there's a high probability that this level will be broken, and the downtrend will continue.
Therefore, while practicing risk management, consider a Sell position.
A Stop Loss can be placed slightly above the resistance level of $84,958.11.
If the support level of $82,988.67 is broken, a Take Profit can be placed at the next support level of $82,192.59.
Important Notes:
This analysis is based on a static image, and market conditions can change rapidly.
Always do your own analysis and practice risk management before entering a trade.
Keep in mind that cryptocurrency markets are highly volatile, and analyses may not always be accurate.
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.