BTC/USD bearish setup (read caption)..Hello fellow traders what about BTC will it fall down as I have prepared the setup for it, and share your opinions in comments.
My setup is based upon the above chart read it carefully and share your thoughts..
This 4-hour BTC/USD (Bitcoin/US Dollar) chart outlines a potential price action scenario:
1. Peak Resistance ( 102,708 ): The chart highlights a crucial resistance level. If Bitcoin breaks above this level, the bullish trend may resume.
2. Entry Zone (100,746) : A yellow zone suggests an area where traders might consider entering sell positions if the price gets rejected at resistance.
3. Bearish Target (98540) : The green zone indicates a potential target for the downward move if the price fails to break the resistance and begins a bearish reversal.
The chart emphasizes monitoring the reaction at the peak resistance to determine whether the trend will remain bullish or reversed to bearish.
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