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BTC

Bitcoin Short Suggestion with Targeted Reversal After Liquidity Grab

The analyst recommends a short position on #BTCUSDT starting from $119,000 with a stop loss at $121,000. The chart shows the price moving within a descending triangle, compressed between lower highs and a support level around 118,000. The current movement is towards the zone of 119,000–119,200, where significant volume is observed, potentially indicating a liquidity grab through a short-term rally. After testing this zone, a reversal is anticipated, leading to a decline back into the range with targets at 117,200 and below if the key support is broken.
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AI Analysis

The current technical setup indicates a bearish trend for Bitcoin in the short term. The formation within a descending triangle is a classic continuation pattern that often leads to a breakdown. The p...

AI Recommendation

Based on the current technical signals and pattern analysis, initiating a short position aligns with a probable downward move following a brief rally. Traders should set their stop-loss at 121,000 to ...

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.

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