Bitcoin Short Term Chart Analysis

#BTCUSDT Technical Analysis

Current Price: $29240

The BTC chart indicates that the $29800 support level has been broken, signaling a bearish trend below this level.

Previously, there was a potential bull flag formation, but unfortunately, it broke downwards due to liquidated high leverage positions.

Short-term target: $27000 within the next few days.
Potential retest of $29800 before heading to $27000, making it a good short entry point.

Important: If you plan to open a short position, ensure to set a stop loss at $30380 for a safe zone. (Please don't consider wicks for stop loss)

Support Levels: $27200
Resistance Levels: $29800 / $31400

Remember, always exercise caution and avoid revenge trading. Make sure to place a stop loss for every trade.

Follow us for more trading signals.