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Bitcoin at a Crucial Crossroad: What’s Next?The $90,000 level serves as a key support zone for Bitcoin. If this level breaks, the cryptocurrency could head toward lower price levels, which have been clearly marked on the chart. From a fundamental perspective, factors such as the potential return of Donald Trump to the presidency could act as a positive catalyst for the market, given that his economic policies have historically boosted financial markets and high-risk assets. However, the impact of such events heavily depends on future political and economic conditions, making it hard to predict with certainty. On the downside, a further drop in Bitcoin’s price remains a possibility, especially since the market has struggled to accumulate enough liquidity for a sustained bullish trend in recent weeks. Therefore, a bearish scenario should not be ruled out. Trading Recommendations: Capital Management: Whether in a bullish or bearish scenario, proper capital management is essential. Avoid entering futures trades against the prevailing market trend. For Holders: There’s little reason for long-term holders to worry. Bitcoin and other cryptocurrencies still appear to have strong growth potential for the coming year. Given the current situation, it's advisable to focus on thorough trend analysis, risk management, and rational decision-making in your trades. Wishing you and all market participants a prosperous and successful year ahead!
by UnknownUnicorn17991432
BTCUSDT: Red Lines Mark the Short-Term Shorting Zones BTCUSDT: Red Lines Mark the Short-Term Shorting Zones 🚨 As you can see here: I shorted 102.500 level last time. I'm not going to build new position but I want to give some weak points on the chart. We’re looking at key red lines on the chart—prime zones for short-term shorting opportunities. These aren’t just random lines; they’ve been carefully selected based on market dynamics. Let’s break it down: Strategic Short Zones: The red lines represent areas where sellers are likely to step in. These are not long-term plays but quick, tactical shorts. Market Context Matters: Always consider the broader trend. While these zones are ideal for shorts, confirmation from lower timeframes (like 1H or 15M) is essential. Tools for Precision: I’ll use CDV, volume profile, and liquidation heatmaps to ensure the setup aligns with market sentiment. Pro Tip: These short-term trades require agility—monitor price action closely and take profits quickly. The market rewards those who plan ahead and execute with precision. Get ready, trade smart, and let’s make this another winning move. Boost, comment, and follow for more insights! 💥 Let me tell you, this is something special. These insights, these setups—they’re not just good; they’re game-changers. I've spent years refining my approach, and the results speak for themselves. People are always asking, "How do you spot these opportunities?" It’s simple: experience, clarity, and a focus on high-probability moves. Want to know how I use heatmaps, cumulative volume delta, and volume footprint techniques to find demand zones with precision? I’m happy to share—just send me a message. No cost, no catch. I believe in helping people make smarter decisions. Here are some of my recent analyses. Each one highlights key opportunities: 🚀 RENDERUSDT: Strategic Support Zones at the Blue Boxes +%45 Reaction 🎯 PUNDIXUSDT: Huge Opportunity | 250% Volume Spike - %60 Reaction Sniper Entry 🌐 CryptoMarkets TOTAL2: Support Zone 🚀 GMTUSDT: %35 FAST REJECTION FROM THE RED BOX 🎯 ZENUSDT.P: Patience & Profitability | %230 Reaction from the Sniper Entry 🐶 DOGEUSDT.P: Next Move 🎨 RENDERUSDT.P: Opportunity of the Month 💎 ETHUSDT.P: Where to Retrace 🟢 BNBUSDT.P: Potential Surge 📊 BTC Dominance: Reaction Zone 🌊 WAVESUSDT.P: Demand Zone Potential 🟣 UNIUSDT.P: Long-Term Trade 🔵 XRPUSDT.P: Entry Zones 🔗 LINKUSDT.P: Follow The River 📈 BTCUSDT.P: Two Key Demand Zones 🟩 POLUSDT: Bullish Momentum 🌟 PENDLEUSDT.P: Where Opportunity Meets Precision 🔥 BTCUSDT.P: Liquidation of Highly Leveraged Longs 🌊 SOLUSDT.P: SOL's Dip - Your Opportunity 🐸 1000PEPEUSDT.P: Prime Bounce Zone Unlocked 🚀 ETHUSDT.P: Set to Explode - Don't Miss This Game Changer 🤖 IQUSDT: Smart Plan ⚡️ PONDUSDT: A Trade Not Taken Is Better Than a Losing One 💼 STMXUSDT: 2 Buying Areas 🐢 TURBOUSDT: Buy Zones and Buyer Presence 🌍 ICPUSDT.P: Massive Upside Potential | Check the Trade Update For Seeing Results 🟠 IDEXUSDT: Spot Buy Area | %26 Profit if You Trade with MSB 📌 USUALUSDT: Buyers Are Active + %70 Profit in Total 🌟 FORTHUSDT: Sniper Entry +%26 Reaction 🐳 QKCUSDT: Sniper Entry +%57 Reaction 📊 BTC.D: Retest of Key Area Highly Likely This list? It’s just a small piece of what I’ve been working on. There’s so much more. Go check my profile, see the results for yourself. My goal is simple: provide value and help you win. If you’ve got questions, I’ve got answers. Let’s get to work!
Short
by UmutTrades
BTCUSDT Analysis: Preparing for a Critical Zone TestThe 4-hour chart of BTCUSDT reveals a textbook retest of key levels following a sharp breakdown from the resistance near $105,268 . This move is consistent with a broader bearish structure that began forming after rejection at $108,366 . The current trajectory suggests Bitcoin may continue its downward momentum toward a high-probability liquidity zone between $85,883 and $89,510 . Here's why this area deserves close attention: Technical Breakdown: 1. Descending Trendline Rejection: The price recently respected the long-term yellow descending trendline, emphasizing the strength of sellers around $102,934. 2. Support Zones: Immediate support at $96,920 has seen a weak bounce, increasing the likelihood of deeper retracements. A stronger accumulation zone lies between $85,883 and $89,510 (highlighted in orange), which aligns with historical demand zones and Fibonacci retracement levels. 3. Bearish Momentum: The rapid fall post-breakout indicates strong bearish momentum, confirmed by increasing sell volumes on key levels. Any short-term pullback toward $96,436 or $98,000 could serve as an opportunity to position for further declines. 4. Indicators and Risk Management: Divergence signals suggest momentum exhaustion, and traders should anticipate potential short-term volatility. Use tight stop-loss placements and avoid overleveraging. For this setup, a stop-loss above $98,920 is recommended to limit risk. Trade Plan: Short Opportunity: If BTC retraces to $96,436 or $98,000, consider entering short positions with targets in the $89,510–$85,883 range. Stay vigilant and be prepared to pivot based on price action near critical levels. *** Final Note: Remember, no strategy is foolproof. Always consider market risks, manage positions carefully, and align trades with your broader portfolio strategy. Let the price action guide your decisions.
Short
by Alchemist_X
3
Bitcoin(BTC/USD) Daily Chart Analysis For Week of Jan 10, 2025Technical Analysis and Outlook: Bitcoin has surpassed our crucial Mean Resistance of 99500 in this week's trading session by plunging sharply back to a critical Mean Support of 91800. This decline suggests that a significant interim pullback may be underway, potentially bringing the cryptocurrency to the Outer Coin Dip 83400 before any resurgence in the bull market occurs. However, an interim strong upside move to Mean Res 97300 might be in the works.
BITSTAMP:BTCUSD
by TradeSelecter
BitcoinPossible scenarios - The charts below present an Elliott Wave analysis on the daily time frame. January is typically a month for corrections, and this January, the price appears to be pulling back into wave 4, with significant support at the 0.3 to 0.5 Fibonacci levels. It seems likely that there will be a quick final leg down, with a potential maximum decline of 15%, which could cause many alt-coins to lose value. However, considering that we are still in a bull run, this correction may be shallow, potentially bottoming out around the 88k to 90k range. - Blue and white support perfectly matched the targets for C wave and wave 4. I can not ignore the fact that sometimes C can length on the same level where wave A is (forming double bottom) - If I zoom in or out on the chart, I might see a potential Head and Shoulders (H&S) pattern with a target of $77,000. However, the structure of this H&S pattern isn't perfect, and I've noticed that such patterns are often not very reliable, especially with Bitcoin (BTC). If we consider these patterns, it's also worth noting that a weekly H&S is forming to the upside, targeting an increase of over $200.K.
by denispeshevski
What Pattern Is This?Asking for a Technical Trader umm What Pattern Are WE Trading LOL When In Doubt call me crazy "STAY OUT" or just hold I think we will see many more times like these remember nothings ever simply one way and the world you know can change into the one you have yet to know. YOLO Moonboyz 🌛 If you feel so inclined to do so. 🚽👄 Toilet Mouth: "Why do all your post say Short!?" or a bunch of "BUT, BUT, BUT" ⭐Not my job to tell you to buy or sell entries matter to most I only care about my exits. ⭐Let each person determine their cost to acquire and choice to play or not. No Advice to give just thoughts that I can't shake after the last 8 years in the world of "CRYPTO" Things 🤷‍♂️ #Fixed IDK! 🙏 FOR JUST A HEALTHLY PULLBACK! ""KEEP CALM AND MANAGE THY RISK & BALANCE your Senses!"" I am The CoinSLayer 👨‍💻😈 You have been warned by The Coin SLayer!
BINANCE:BTCUSDShort
by BradySWilliams
5
Crypto Alpha Report - January 10, 2025Happy Friday, friends! Is the Bull Market over or on the verge of epic continuation? Join us for Fundamentals Friday as we dive deep into the evidence and find what side of the market we should be on. Let’s re-iterate a powerful metric: Bitcoin Balance on Exchanges. Currently, in January 2025, we have the lowest balance of Bitcoin on exchanges we’ve seen since January of 2019 - which was the bottom of the 2018/19 Bear Market. Liquidity and the order books are thin when the Exchange Balance is very low. This means price is subject not only to wild price swings (which is why being careful with leverage here is crucial) but also sets up price for rapid price appreciation if a surge of fresh buying comes in. However, the knife cuts both ways, as it also means less buy-side liquidity to absorb market sell orders. However, on the positive side, we analyze how this metric has helped predict Bitcoin’s price movements, whether bullish or bearish. We notice that since 2019, prolonged periods of Bitcoin Balance declining have led to bullish price action, and it’s only once the Balance on Exchanges begins to rise again that it calls the Euphoria Phase of the Market Cycle - when prices increase rapidly. Secondly, the long-term holder distribution of Bitcoin seems to have peaked and is currently declining - reaching peaks we’ve seen in previous cycles. In the 2017 market cycle, this metric peaked in August of 2017, when we saw a pullback in Bitcoin’s price from $4,000 to $3,600 - then we continued to rally to $19,000. In 2021, this metric peaked in January, which saw Bitcoin’s price pullback from $40,000 to $32,000 - we then rallied to $63,000. In 2024, this metric peaked on Dec. 10th, which has seen Bitcoin’s price pullback from $105,000 to $90,000 - we then rallied to ???,??? in 2025. Here’s to a frothy future! Crypto Market Update Stablecoin Dominance So far, a swat down from resistance and a decline of -2.17%. Buyers indeed stepped in, supporting Bitcoin’s price specifically and key altcoins. If this is the beginning of a rally, expect this metric to move as low as 5% again - but fair warning: a sustained close above 6% means a breakdown in risk on crypto assets. Bitcoin + Stablecoin Dominance It was an indecisive day for this metric, putting in a doji right below our 200 DMA. With altcoin buyers stepping in tentatively, this metric could go either way. Altcoin Performance Relative to Bitcoin Altcoin buyers have stepped in tentatively, as this metric has increased by 50 bps. This is the zone we should anticipate altcoins to bounce back - so I’m currently feeling optimistic about this metric rising following the deep deviation we had several weeks ago. Bitcoin Bitcoin put in an amazing rally from $91,000 to $95,000 overnight, printing more consecutive bullish hourly candles than we’ve seen since 2017. Trends 5M: Bullish 30M: Bullish 1H: Bearish 4H: Bearish D: Bullish W: Bullish Bitcoin has reclaimed a bullish 5M and 30M trend following an epic rally off of the lows. While the Hourly trend has yet to flip bullish, we have reclaimed the key moving averages of the 1H trend, and the dip to $94,000 looks like a liquidity grab before a move higher up. Key resistance at $95,900 - a break above would confirm just a test of the bottom of Bitcoin’s consolidation range and a pushback to $100,000. Key Levels Point of Control: $93,972 VWAP: $93,988 Value Area High: $94,848 - $95,675 Value Area Low: $92,301 - $93,127 Next Liquidity Zone Above: $$96,393 - $98,487 Next Liquidity Zone Below: $87,000 - $90,200 Strategy: Continue to hold long positions. 30M chart shows a liquidity void was just tapped at $95,700, but our local Point of Control held before that. If this is a bottom, there’s no need to re-test support. It looks like they pushed the price back down to $94,000 to fill orders before letting the price send.
BYBIT:BTCUSD.PLong
by CrackingCryptocurrency
Bitcoin BTC Has Almost Finished Correction: $89k soon!Hello, Skyrexians! In our recent analysis we told that this correction will not be finished without reaching GETTEX:89K , it almost impossible! Several days ago BINANCE:BTCUSDT surges above $102k which caused a lot of optimism on the market, but all these traders has been banished by the sudden dump. Why this drop was expected and promised GETTEX:89K will be reached anyway. Let's take a look at the daily time frame. We can see the after reaching wave 3 top corrective wave 4 has been started. Wave 4 is a zigzag ABC. Corrective wave B has been finished exactly at 0.61 Fibonacci. Now price is forming wave C. This wave has the minimal target at 0.38 Fibonacci at $89k. There we can expect the signal on Bullish Reversal Bar Strategy to make sure with the high probability that correction is over and the next target is $120k. As always, alerts from this indicator are automatically replicated on my accounts. You can find the information in our article on TradingView . You can see the sniper entries for this indicator before. Best regards, Skyrexio Team ___________________________________________________________ Please, boost this article and subscribe our page if you like analysis!
Long
by Skyrexio
Spot Bitcoin ETFs in the US Acquired Nearly 4x the Amount Mined Market Update - January 10, 2025 Takeaways Spot bitcoin ETFs in the US acquired 51,500 bitcoin in December, nearly quadruple the 13,850 BTC mined: Spot bitcoin ETF-driven demand could create a supply shock that would drive prices higher in the coming months. But the price of bitcoin pulled back below $93,000 this week after reports the US government might sell $6.5 billion worth of bitcoin seized from Silk Road. Backpack Exchange has reportedly acquired FTX EU after regulatory approval: The exchange, founded by ex-FTX and Alameda staff, would be the managing entity for FTX EU bankruptcy claims. But the FTX bankruptcy estate released a statement claiming Backpack has no control over redistributing the funds, adding that the press release announcing the sale went out without approval. Terraform Labs founder Do Kwon has pleaded not guilty to fraud charges in US court following extradition: Prosecutors allege he misled investors about terraUSD's stability. Kwon's case is expected to go trial in January 2026. Metaplanet is aiming to quintuple its bitcoin holdings to 10,000 BTC by leveraging capital markets: The Tokyo-listed firm already holds 1,761.98 bitcoin, currently worth close to $180 million. The move continues a recent trend of corporate and investment entities stockpiling bitcoin as a reserve asset. Spot Bitcoin ETFs Accumulate nearly four times December’s Mined BTC Amid Supply Squeeze Spot bitcoin ETFs in the US acquired 51,500 bitcoin in December 2024, dwarfing the 13,850 produced by miners during the same period. This ETF-driven demand reportedly represented 272% of the monthly supply. Bitcoin's price peaked at an all-time high of $108,135 on December 17, driven by surging spot market activity. A January 6 report also highlighted bitcoin exchange balances hitting record lows, with researchers predicting a potentially imminent supply shock. On Friday last week, spot bitcoin ETFs added over $900 million in inflows. But the price of bitcoin has subsequently pulled back this week, dropping below $93,000 on Thursday as the market weighed the veracity of a report that the US government was poised to sell some $6.5 billion in bitcoin originally seized from Silk Road. In mining, MARA Holdings led December’s production with 9,457 bitcoin. Riot produced 516 bitcoin and Cleanspark came in third with 668 bitcoin mined. Other contributors included Bitfarms (211 BTC) and Terawulf (158 BTC). With total US bitcoin ETF holdings now nearing $110 billion, some analysts have projected bitcoin to see more significant gains throughout the year. Dogecoin (DOGE): The Birth of the Original Memecoin Dogecoin (DOGE) started out as a parody of cryptocurrencies and, in particular, the proliferation of altcoins. Its founders have publicly stated that DOGE was a joke, and the currency hasn’t received a significant technical update since 2015. Despite these facts, market forces have kept the cryptocurrency alive. According to the founders, it was never about the value of DOGE, but rather about giving people an accessible introduction to the world of cryptocurrency through a face many already knew from an internet meme — Doge. The founders sought to overcome Bitcoin’s and other cryptocurrencies’ barriers to entry — for example, news of hacks and scams, as well as technological complexities. To that end, they created a fun and friendly cryptocurrency to welcome newcomers to the crypto space. Read more! Onward and Upward, Team Gemini
GEMINI:BTCUSD
by Gemini
Bitcoin Idea!"🌟 Welcome to Golden Candle! 🌟 We're a team of 📈 passionate traders 📉 who love sharing our 🔍 technical analysis insights 🔎 with the TradingView community. 🌎 Our goal is to provide 💡 valuable perspectives 💡 on market trends and patterns, but 🚫 please note that our analyses are not intended as buy or sell recommendations. 🚫 Instead, they reflect our own 💭 personal attitudes and thoughts. 💭 Follow along and 📚 learn 📚 from our analyses! 📊💡"
COINBASE:BTCUSD
by Golden_candle
1
BTC's ultimate bullish point is here!BITSTAMP:BTCUSD Bitcoin is in the bottom of a broadening wedge, which has proved to be a good Support point as well! also we can see a double bottom on the chart which is another bullish pattern! so this might be a pretty good point to be bullish on Bitcoin. ⚠️ Disclaimer: This is not financial advice. Always manage your risks and trade responsibly. 👉 Follow me for daily updates, 💬 Comment and like to share your thoughts, 📌 And check the link in my bio for even more resources! Let’s navigate the markets together—join the journey today! 💹✨
BITSTAMP:BTCUSDLong
by CRYPTONIC_trend
Bitcoin (BTC/USD) Technical Analysis: Key Levels and Potential SThe chart highlights critical support and resistance levels along with possible price scenarios for Bitcoin (BTC/USD) on the 4-hour timeframe. The combination of technical patterns and momentum indicators offers a roadmap for potential future movements. Key Levels: Resistance at $95,600: The $95,600 level serves as a key resistance point. A breakout above this level could signal a bullish continuation toward $100,740.93, aligning with the upper boundary of the channel. Support Zone at $91,400–$90,400: This area is a strong support zone, highlighted in blue, and represents a potential bounce point if the price continues to decline. Failure to hold this level could push Bitcoin further downward. Lower Support Levels: $82,265.90 and $76,125.14 are critical lower support levels if bearish momentum intensifies. Scenarios: Bullish Scenario: If Bitcoin rebounds from the $91,400–$90,400 support zone and breaks above $95,600, we could see a rally toward the $100,740.93 target. Bearish Scenario: A breakdown below the $91,400–$90,400 zone could lead to a decline toward $82,265.90 or even $76,125.14, driven by increased selling pressure. Indicator Insights: DT Oscillator: Currently in the oversold zone, suggesting a potential short-term bounce. However, confirmation is needed from price action and resistance levels. Conclusion: Bitcoin is at a pivotal point with significant support and resistance levels clearly defined. Traders should monitor price reactions closely around the $91,400–$90,400 zone and watch for a breakout or breakdown for directional cues. Feel free to share your thoughts in the comments, and don’t forget to follow me for more detailed analyses! ⚠ Disclaimer: This analysis is for educational purposes only and should not be considered financial advice. Always conduct your own research before making trading decisions.
INDEX:BTCUSD
by Mohammad_Mirdehghan
Crypto Alpha Report - January 09, 2025Happy Thursday, friends! There is a lot of fear and panic in the air today. Is the U.S. Government poised to sell $69,000 Bitcoin? Let’s dive into the facts and decide what side of the market is the right side to be on. Last evening, information from Bitcoin Magazine began circulating that the Department of Justice had received court approval to sell approximately $6.5 billion worth of Bitcoin seized from the Silk Road. They received this approval on December 30th, and we are now hearing this. Furthermore, there are claims that this Bitcoin has already “been sold” via a credit line brokered by Coinbase. There is speculation that this is one of the chief sources of the volatility and selling pressure we’ve seen thus far. On the bear side, many are panicking, speculating that this much Bitcoin would obliterate order books and send Bitcoin plummeting to below $30,000 if dumped on the open market. We can safely rule out that scenario. The US Government has sold Bitcoin multiple times in the past: -2014: US Marshals auctioned Bitcoin seized from Silk Road. Tim Draper purchased 30,000 BTC at this time. -2018: USG sells 500 BTC to Riot Blockchain. -2021: USGSA auctioned off less than 1 BTC. -2023: USG auctioned off 9,861 BTC to the tune of $215M. -2024: Significant amounts of Bitcoin have been moved around in USG wallets in 2024, sparking rumors of potential sales. In April 2024, 30,000 BTC was moved, some going to Coinbase, but no official sales occurred. As you can see, although the USG has a history of selling Bitcoin, they have never sold them on the open market. They have always auctioned them off and almost always to individuals who desire to hold them. This fringe idea of 69,000 being market-sold is ludicrous. After some digging, I found the Bitcoin wallet in question. Despite rumors, the coins have NOT been moved to Coinbase. www.blockchain.com The timing of this event is also sparking a lot of debate online over whether or not it is a political move, with the inauguration of a “Bitcoin” president eleven days away. At the 2024 Bitcoin Conference in Nashville, Trump vowed to move for the US Government to keep all of its Bitcoin and not sell any. This sale was greenlit by a federal judge, as stated on December 30th, 2024, after a long and contentious legal battle over ownership rights with Battle Born Investments, with the DOJ citing Bitcoin’s volatility as the primary reason for the approval of the sale, wanting to liquidate assets before the value of the government’s holdings declined. The middle-of-the-road thinking around the Strategic Bitcoin Reserve is that Trump would keep all of the USG's current Bitcoin and allocate that to the “reserve.” Of course, the more bullish advocates are expecting the USG to begin spot-buying Bitcoin. Regardless, unless we see Trump roll entirely back on all of his crypto promises, he will likely move to undermine or reverse this sale. The current administration only has 11 days to finalize this sale, and for now, the Bitcoin remains in the Silk Road private wallet. Crypto Market Update Stablecoin Dominance This metric has increased by +3.25% today. At our current primary resistance level of 6%, this has been where we’ve seen buyers step back into the market and defend risk-on positions. However, on the bear side, momentum crosses into the positive zone after a long reversal pattern. Although my gut doesn’t quite believe it, a dispassionate analysis reveals a likely growth in this metric, implying further downside for crypto assets. Bitcoin + Stablecoin Dominance An increase in this metric of 0.42% largely driven by the rise in Stablecoin Dominance, as highlighted above. Currently, altcoins are holding up relatively well to Bitcoin’s decline in price. Similarly concerning for altcoins, however, is that momentum is now pushing into the positive zone without this metric being overly extended. Altcoin Price Performance Relative to Bitcoin A decline in this metric of -1.01%. Despite Bitcoin’s bearishness, altcoins hold their value relatively well compared to previous examples of Bitcoin price declines. Although we can see from yesterday’s Hammer Candle that buyers stepped in significantly, this metric continues to slide down today. Bitcoin Bitcoin’s price has declined below its January lows without triggering significant liquidations. Despite being heavily oversold, Bitcoin’s price has yet to reverse its downward trend, creating the possibility of more short-term downside before rising in anticipation of the US CPI print next Wednesday. Trends 5M: Bearish 30M: Bearish 1H: Bearish 4H: Bearish D: Bullish W: Bullish Bitcoin remains in an overall Bearish trend. Currently trading below VWAP, Bitcoin must break above $92,100 to deviate from the 5M trend. LTF Momentum Oscillators continue to show Bullish Divergence. This is a buying opportunity, but not for a leveraged swing trade. Don’t underestimate the swings FUD can have, and I would like to survive a wick to $88,000 if it occurs. Watch for Bitcoin to regain 30M momentum before longing. Key Levels Slightly different take today. Looking at the 4H Volume Profile, I can see voids in liquidity directly at December’s low at ~$90,250 and slightly lower at ~$88,600. As Bitcoin is trading in a wedge consolidation pattern, I think we don’t need to be significantly concerned with a large-scale breakdown in January. This remains my position, so in the short-term, in the bear case, I want to be prepared for Bitcoin’s price to re-test December’s lows and potentially wick lower to fill that liquidity void. Zooming out below that, to make the bear case, liquidity voids exist at ~$83,000 and ~$77,000, providing downside targets to my contrarian bears reading. Strategy It's a pretty classic trading setup here, guys. We’re at support. This is also a battleground zone, where having an edge is tough - unless you stick to the basics. It's a scary area to long, I know, but that’s the statistically best setup here. If structuring a long, I would ensure it can survive a wick to $88,000 as highlighted above, and my profit target would be ~$95-$97,000. If you’re more inclined to short here, I won’t criticize you; it’s your account. But make sure you have conviction and that your short can survive volatility. I’ll stick to the classic maneuver here.
BYBIT:BTCUSD.P
by CrackingCryptocurrency