Hey LuckySevenTrader Community
Let’s take a quick look at #BTC/USDT: . The price is currently getting rejected from the 0.786 Fibonacci level, which is drawn from the recent swing high to the recent swing low. This is often a strong resistance area where price reversals can occur, signaling a potential downward move.
If this level holds as resistance, #Bitcoin❗ could be setting up for a short opportunity. The price action suggests that bears might take control, pushing the market down from this point. It’s worth keeping a close eye on this setup and preparing for a possible entry, but always remember to manage your risk.
As always, make sure to double-check your own analysis and use proper risk management before diving into any trade. Happy trading, and let’s see if BTC follows through with this potential move!
#LuckySevenTrader #BinanceSquareFamily #chartpatterns
$BTC
