BTCUSDT Headed for more than 7% Drop?

7月3日

Hey Realistic Traders, let's dive into the technical analysis of BTCUSDT

Bitcoin is currently trading below the EMA90 line, indicating a bearish trend. The breakout from the rising wedge formation further confirms this downtrend. Additionally, the momentum indicator has revealed an MACD bearish crossover, reinforcing the negative sentiment. This crossover, marked by the MACD line crossing below the signal line, underscores increased selling pressure and suggests a potential downward movement. Therefore, these combined technical signals collectively suggest a continuation of the bearish trend, with our initial target set at 58,093 or potentially dropping further to the second target at 55,742.

Disclaimer: "Please note that this analysis is solely for educational purposes and should not be considered a recommendation to take a long or short position on Bitcoin."

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7月3日

交易开始

Bitcoin exceeds the grey zone, the bearish sentiment will continue further

7月4日

注释

Reached the first target as we expected to be

7月5日

交易结束：到达目标

Reached the second target, it could be consider as an area for taking profit

7月21日

注释

Not finding any opportunity yet, we will not post until we find something suitable to our trading strategy