BTC Analysis On H4 T.F

kelmarin

Bitcoin Price Analysis: A Selling Opportunity Amidst Market Volatility

The Bitcoin price has been moving within an upward parallel channel, characterized by inclined support and resistance lines. Notably, the trend has reversed three times from the support line and twice from the resistance line.
Currently, the trend is testing the resistance line, where we anticipate a reversal. Following this, we expect the price to move towards the support line.

(News Impact on Bitcoin Market)
The current market volatility, fueled by rising regulatory concerns, adoption rates, and global economic uncertainty, has created a favorable environment for a potential Bitcoin price drop. Recent news and events that may impact the Bitcoin market include:
1. Regulatory developments and their potential impact on Bitcoin's price.
2. Changes in adoption rates and their effect on market sentiment.
3. Global economic uncertainty and its influence on safe-haven assets.

Trade Setup:
Based on our technical analysis and news impact, we recommend opening sell positions in Bitcoin.
1. Entry: Sell Bitcoin at 106000-107500
2. Stop Loss: 109500 (above the resistance line)
3. Target Prices:
1. 104000 (T.P1)
2. 102000 (T.P2)
3. 100000 (T.P3)
4. 98000 (T.P4, final target near the support line)

This trade setup offers a potential profit of 8000 points, with a risk of 1500 points. We believe that the current market conditions and news impact make this an attractive selling opportunity for Bitcoin.

20 jam lalu

Dagangan aktif

Take profit 1 Done👍
Keep your selling positions on hold.