BTC on the way down

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BTCUSDT Perpetual Contract (BYBIT:BTCUSDT.P)

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BYBIT:BTCUSDT.P BTCUSDT Perpetual Contract

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Bitcoin (BTC) against Tether (USDT) is currently priced at $69,731. After an unsuccessful retest, it is anticipated that BTC will undergo another retest before plummeting to a support level of $52,500 to $52,800. The unsuccessful retest indicates a potential weakening in the buying momentum, leading traders and investors to anticipate a decrease in price. This forthcoming retest is viewed as a critical juncture; if Bitcoin fails to maintain its position or show strength, it may trigger a sell-off, driving the price down to the identified support range.

MFI on 4h looks, so there can be some trap, ADX low, lets hope it is safe to open position.

1. Target 53 000

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first stop was perfect with very good profit, waiting for target

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time to continue

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Price is holding very tight, so be careful and take profit just in case:

Penafian

Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.