BTC/USD Analysis

4天前

BTCUSD here are some insights based on the setup:

**Key Observations:**

1. **Resistance Zone:**
- The shaded gray zone around **98,000–100,000** acts as a resistance area.
- The price is currently testing this zone, and you are waiting for **bearish confirmation** to consider a sell position.

2. **Support Zone:**
- A significant support level is marked at **91,098**. This would likely be your first target if the bearish setup is confirmed.
- If this support level breaks, it could open further downside opportunities.

3. **Trend Indication:**
- The price is below the longer-term moving averages, suggesting a broader bearish trend.
- The recent upward move may be a retracement into the resistance zone.

4. **Bearish Confirmation:**
- You're likely looking for a clear rejection pattern (e.g., bearish engulfing, pin bar, or other candlestick patterns) or a lower low on smaller time frames near the resistance zone before executing a sell.

**Trading Plan:**

**For a Sell Position:**
- **Entry:** Upon bearish confirmation (e.g., a rejection from 98,000–100,000).
- **Target 1:** **91,098**, as marked on your chart.
- **Target 2:** Further downside if 91,098 breaks (e.g., levels like 88,000 or 86,000 can be monitored).
- **Stop Loss:** Above the resistance zone (e.g., around 100,500 or 101,000, depending on your risk tolerance).

**For a No-Trade Scenario:**
- If the price breaks above 100,000 with strong bullish momentum and no rejection patterns, it invalidates the bearish setup, and you'll wait for a new opportunity.

**Additional Considerations:**
- Keep an eye on **volume**: Strong rejection at resistance with high selling volume can validate the trade.
- Look for confluences with RSI or MACD divergence (if applicable) for added confidence.
- Monitor for external catalysts (e.g., macro news or BTC-related events) that might influence the price action.