sell
Bearish Short Trade on BTCUSDT with Key Support Levels
A short position on #BTCUSDT is suggested from $108,800 with a stop loss at $110,484. The 2-hour timeframe indicates a long-term upward trend characterized by rising lows and highs. On a higher timeframe, a sideways range and a zone of interest for selling were established after breaching an all-time high, which has been tested and confirmed.
Locally, the price moved according to the ABC substructure wave, testing a mirror level and reacting downward. During the pullback, a buy block appeared on the 30-minute timeframe, but it is yet unconfirmed.
The main emphasis is on the higher timeframe's outlook. It is advised to consider a liquidity pool breakout below the current range. The proposed entry zone is between $108,800 and $109,600. Set your stop according to your chosen strategy and risk management rules.
Target levels are:
1. $107,200
2. $105,040
3. $102,800
4. $101,000
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AI Analysis
The analysis provided is based on a comprehensive review of the 2-hour and higher timeframes, revealing a predominantly bullish trend due to the rising lows and highs pattern. The formation of a sidew...
AI Recommendation
Traders should prepare to monitor the range and liquidity pools closely, waiting for a confirmed breakout below the identified support zone to initiate the short. It’s advisable to manage risk strictl...
Disclaimer
The AI analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.