(BTC/USD) Short Trade Setup: Key Resistance Rejection with Targe1. Entry Point: 104,855
This is where the trader plans to enter a short position (sell).
Price is slightly below this level at the moment (103,775).
2. Stop-Loss Zone: ~104,807
Highlighted in purple above the entry.
Indicates where the trader will exit if the market moves against them to limit losses.
3. Resistance Point: 103,086
This level has been tested multiple times and may act as a ceiling for prices.
If broken and held, it might invalidate the short setup.
4. Target Point: 93,159
This is the take-profit level for the short trade.
Represents a drop of approximately -10.76% from the entry point.
5. Trend Analysis:
The chart shows an uptrend leading into a potential distribution or topping pattern near the resistance zone.
A potential bearish move is anticipated, hence the short strategy.
6. Support Zones:
Highlighted in purple near the target area (around 93,159).
Historically strong buying areas.
Interpretation:
The trader expects the current resistance level to hold, prompting a downward correction toward the target zone at 93,159. If price moves above 104,807, the setup is invalidated, hence the stop-loss placement.
