Market Context:
Bitcoin has been in a clear downtrend, forming lower highs and lower lows on the 15-minute timeframe.
The price recently rejected from the 0.786 Fibonacci retracement level at $84,510, indicating strong selling pressure at that zone.
A new low was formed at $83,532, confirming continued bearish momentum.
Trade Setup:
Type: Short (Sell)
Entry Zone: $84,000 - $83,800
This zone represents a potential pullback area where sellers might re-enter the market.
The Fibonacci retracement and previous price action confirm resistance in this region.
Stop Loss: $84,240
A stop loss above $84,240 is placed to invalidate the trade if Bitcoin gains bullish momentum beyond the recent swing high.
Profit Targets:
Target 1: $82,575
This aligns with the 1.0 Fibonacci extension level, a common take-profit zone.
Target 2: $81,775
The 1.414 Fibonacci extension, further confirming a continuation of the trend.
Target 3: $81,380
The 1.618 Fibonacci extension, marking a deep continuation move where price might find stronger support.
Risk-to-Reward (RR) Analysis:
The setup offers a high RR ratio, making it a favorable short trade.
The trade allows for tight risk management while targeting a significant move in price.
Confluence Factors Supporting the Short:
Bearish Trend: Price is making lower highs and lower lows.
Fibonacci Retracement Resistance: Rejection from key levels.
Liquidity Grab & Pullback: Price may retest resistance before continuing downward.
Risk-Reward Favorability: Targets align well with market structure.
This setup offers a solid momentum-based short opportunity with clearly defined risk levels and take-profit zones. Traders should monitor the entry zone reaction before confirming the short position. 🚀
Bitcoin has been in a clear downtrend, forming lower highs and lower lows on the 15-minute timeframe.
The price recently rejected from the 0.786 Fibonacci retracement level at $84,510, indicating strong selling pressure at that zone.
A new low was formed at $83,532, confirming continued bearish momentum.
Trade Setup:
Type: Short (Sell)
Entry Zone: $84,000 - $83,800
This zone represents a potential pullback area where sellers might re-enter the market.
The Fibonacci retracement and previous price action confirm resistance in this region.
Stop Loss: $84,240
A stop loss above $84,240 is placed to invalidate the trade if Bitcoin gains bullish momentum beyond the recent swing high.
Profit Targets:
Target 1: $82,575
This aligns with the 1.0 Fibonacci extension level, a common take-profit zone.
Target 2: $81,775
The 1.414 Fibonacci extension, further confirming a continuation of the trend.
Target 3: $81,380
The 1.618 Fibonacci extension, marking a deep continuation move where price might find stronger support.
Risk-to-Reward (RR) Analysis:
The setup offers a high RR ratio, making it a favorable short trade.
The trade allows for tight risk management while targeting a significant move in price.
Confluence Factors Supporting the Short:
Bearish Trend: Price is making lower highs and lower lows.
Fibonacci Retracement Resistance: Rejection from key levels.
Liquidity Grab & Pullback: Price may retest resistance before continuing downward.
Risk-Reward Favorability: Targets align well with market structure.
This setup offers a solid momentum-based short opportunity with clearly defined risk levels and take-profit zones. Traders should monitor the entry zone reaction before confirming the short position. 🚀
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Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.