Fresh capital hasn’t come in, and the market structure for $BTC has weakened first. The 4-hour and 1-hour moving averages are both above the price, and the bearish alignment remains intact. With the EMA50 below the EMA200, the swing trend is still pointing downward; the rebound looks more like a correction than a reversal.
I’m watching the move up to the upper edge of the previous high-volume zone. If volume doesn’t pick up, it means buyers can’t absorb the selling pressure. The RSI is already very low, so a short-term bounce could happen at any moment. But until the structure turns, I’m inclined to follow the trend and look for a pullback. Losing the key level would open up more room to the downside.
🔴 Trade direction: Short
📍 Entry range: 69342.27 – 69477.66
🛑 Stop loss: 70972.45
🎯 Take profit 1: 68238.10
🎯 Take profit 2: 67456.87
🎯 Take profit 3: 66285.01
Take in the vastness of mountains and seas; observe the market’s finer details.
Trade alongside Uncle Xiong, and witness the gains and losses of the world.
#BTC
Click below to trade 👇
I’m watching the move up to the upper edge of the previous high-volume zone. If volume doesn’t pick up, it means buyers can’t absorb the selling pressure. The RSI is already very low, so a short-term bounce could happen at any moment. But until the structure turns, I’m inclined to follow the trend and look for a pullback. Losing the key level would open up more room to the downside.
🔴 Trade direction: Short
📍 Entry range: 69342.27 – 69477.66
🛑 Stop loss: 70972.45
🎯 Take profit 1: 68238.10
🎯 Take profit 2: 67456.87
🎯 Take profit 3: 66285.01
Take in the vastness of mountains and seas; observe the market’s finer details.
Trade alongside Uncle Xiong, and witness the gains and losses of the world.
#BTC
Click below to trade 👇