BTC bearish until news tomorrow.

4 lug

BTCUSD
Current Price: 58,260 USD

Key Levels:

• Resistance: 60,000 USD, 62,000 USD
• Support: 56,748 USD

Technical Indicators:

• Stochastic RSI: Overbought
• RSI (14): 43.40 (bearish momentum)
• CCI (20): 13.82 (neutral)

Volume: Increased during price drops, indicating strong selling pressure.

Short Position Strategy:

Entry Point: Around 60,000 USD (resistance level)

• Stop Loss: 60,500 USD (above the resistance)
• Target: 56,748 USD (support level)

Rationale:

• Resistance at 60,000 USD suggests potential for continuation of the downtrend.
• Stochastic RSI in overbought territory, indicating a possible pullback.
• RSI below 50 confirms bearish momentum.