BTC/USDT 1H: Bearish Rejection – Accumulation in Play, Await Reversal Confirmation?
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Current Market Structure:
Market Maker Activity:
Trade Setup (Confidence 8/10):
Recommendation:
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Current Market Structure:
- Price at $94,189, showing bearish momentum after rejection from $98.8K.
- Market structure remains bearish following a break of the previous swing low at $95.2K.
- Hidden bearish divergence on RSI is evident, with RSI making lower highs while price holds equal highs.
Market Maker Activity:
- Smart Money appears to be accumulating at these levels based on volume profile.
- Accumulation suggests potential for a reversal if key support at $93.2K holds.
Trade Setup (Confidence 8/10):
- Entry: $94,200 - $94,400 zone.
- Targets:
- T1: $96,400 (previous support)
- T2: $98,200 (supply zone)
- Stop Loss: $93,200 (below recent swing low).
- Risk Score: 7/10 – Moderate risk, considering weekend volatility.
Recommendation:
- Wait for reversal confirmation with a 1H close above $94.8K before entering long positions.
- Maintain tight stops and scale in entries as the setup offers an attractive risk/reward provided $93.2K support holds.
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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.