Where's the volume, $BR ? BTC's rebound hasn't been backed by volume at all—it looks more like a short-covering trap. On the 4-hour chart, price is below both the EMA50 and EMA200. The moving averages remain bearishly aligned, and the trend structure is still pointing down.
The RSI is around 37, with sellers holding the upper hand. The 1-hour chart is also weak, and the rebound can't even reclaim key levels. At this point, I favor following the trend lower. A bounce into the resistance zone is a short opportunity; I wouldn't turn bullish until the structure has recovered. If price establishes itself firmly above that zone, then this thesis is invalidated.
🔴 Trade direction: Short
📍 Entry range: 0.4506139 – 0.4535820
🛑 Stop loss: 0.4811075
🎯 Take profit 1: 0.4303408
🎯 Take profit 2: 0.4158360
🎯 Take profit 3: 0.3940788
Take in the vastness of mountains and seas; observe the market's finer details.
Trade alongside Uncle Xiong and experience the highs and lows of the markets.
#BR
Click below to trade 👇
The RSI is around 37, with sellers holding the upper hand. The 1-hour chart is also weak, and the rebound can't even reclaim key levels. At this point, I favor following the trend lower. A bounce into the resistance zone is a short opportunity; I wouldn't turn bullish until the structure has recovered. If price establishes itself firmly above that zone, then this thesis is invalidated.
🔴 Trade direction: Short
📍 Entry range: 0.4506139 – 0.4535820
🛑 Stop loss: 0.4811075
🎯 Take profit 1: 0.4303408
🎯 Take profit 2: 0.4158360
🎯 Take profit 3: 0.3940788
Take in the vastness of mountains and seas; observe the market's finer details.
Trade alongside Uncle Xiong and experience the highs and lows of the markets.
#BR
Click below to trade 👇