sell
Bitcoin Short Position at $103.4 with Stop Loss at $105.3
The analyst recommends a short position on #BTCUSDT starting from $103.4 with a stop loss at $105.3. The 1-hour timeframe shows the asset has been largely consolidating, with increased seller activity and impulsiveness on higher timeframes, indicating a potential downturn. The price has established a series of low points, suggesting a possible breakdown below current support levels, which the analyst intends to exploit to initiate a short. The expectation is for Bitcoin to decline further towards the buyer interest zone between $101,500 and $100,500, which will serve as the take profit zone. The analysis emphasizes the current sideways movement and seller dominance, hinting at a bearish trend and a profitable shorting opportunity if the level break occurs.
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AI Analysis
The current analysis revolves around the 1-hour chart of Bitcoin (BTCUSDT), showing extended sideways movement. The consolidation indicates a market in relative equilibrium but also hints at underlyin...
AI Recommendation
Based on the technical setup and observed market behavior, it is advisable to follow the proposed short entry at approximately $103.4. Traders should place a stop loss at $105.3 to manage risk effecti...
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.