Bitcoin analysis on the 4-hour frame: $BTC #BTC
Current trend:
The trend is clearly downward with a break of key support areas, with a continuing structure of lower highs and lower lows.
Trading strategy:
- Sell on upward corrections: Any rise towards the recent resistance areas (around 92500 - 94500) is an opportunity to sell
- Targets: 87000 then 84500 while monitoring price behavior at these areas to take some profits or secure them.
- Buying is not recommended currently until a clear reversal structure appears
Note: Watch for large liquidity and break of lower lows as they may cause acceleration in the decline.
Current trend:
The trend is clearly downward with a break of key support areas, with a continuing structure of lower highs and lower lows.
Trading strategy:
- Sell on upward corrections: Any rise towards the recent resistance areas (around 92500 - 94500) is an opportunity to sell
- Targets: 87000 then 84500 while monitoring price behavior at these areas to take some profits or secure them.
- Buying is not recommended currently until a clear reversal structure appears
Note: Watch for large liquidity and break of lower lows as they may cause acceleration in the decline.
