$BTC is bleeding out. Here is where I'm looking to catch the bounce 🩸
If you’re holding heavy long bags right now, I feel your pain. Bitcoin just took a massive nosedive from the 87k highs and is currently sitting around 75.5k.
Looking at the daily and 4H charts, it’s been a brutal waterfall. We completely lost the 99 MA on the daily, and the MACD is pointing straight down. (I also see those position lines on your chart at 81.7k and 82.9k... we've all bought a local top before, hang in there).
Let's break down the timeframes:
· The Daily/4H: Pure downtrend. It’s trying to find a floor around the 74.8k - 75k area.
· The 1H/15m: It tried to bounce, but got rejected immediately by the 25 MA. The price is just chopping sideways right now, trying to catch its breath. Momentum is dead.
Here is my suggested trade idea:
I am not buying blindly here. Catching a falling knife is dangerous. 74,888 is the line in the sand right now.
🚫 Don't do this: Don't just hit "Long" because it looks "cheap" compared to 87k. It's not cheap until it proves it can hold a bid.
✅ The Long Play: I want to see a reaction at this 74.8k support. If we get a fake breakdown (a wick down to 74.5k) that immediately gets bought back up, or if we print a strong 1H green candle closing back above 75.9k, I'll take a long.
· Target: 77k (the 1H 99 MA).
· Stop Loss: Hard stop below 74.5k. If we lose that, the next stop is probably 72k.
⚠️ The Short Play: If we lose 74.8k with strong volume, the chart is wide open to the downside. I'll look to short the retest of 74.8k as new resistance, targeting 73k or lower.
Right now, patience is the name of the game. The market needs time to digest this massive drop. I'm waiting for the 15m chart to give me a clear structure before touching it.
Are you guys buying this dip, or waiting for lower? Let me know below! 👇
Always manage your risk!
$BTC $ETH $BNB@Bitcoin
#bitcoin #CryptoTrading #BTC #BinanceSquare #trading
If you’re holding heavy long bags right now, I feel your pain. Bitcoin just took a massive nosedive from the 87k highs and is currently sitting around 75.5k.
Looking at the daily and 4H charts, it’s been a brutal waterfall. We completely lost the 99 MA on the daily, and the MACD is pointing straight down. (I also see those position lines on your chart at 81.7k and 82.9k... we've all bought a local top before, hang in there).
Let's break down the timeframes:
· The Daily/4H: Pure downtrend. It’s trying to find a floor around the 74.8k - 75k area.
· The 1H/15m: It tried to bounce, but got rejected immediately by the 25 MA. The price is just chopping sideways right now, trying to catch its breath. Momentum is dead.
Here is my suggested trade idea:
I am not buying blindly here. Catching a falling knife is dangerous. 74,888 is the line in the sand right now.
🚫 Don't do this: Don't just hit "Long" because it looks "cheap" compared to 87k. It's not cheap until it proves it can hold a bid.
✅ The Long Play: I want to see a reaction at this 74.8k support. If we get a fake breakdown (a wick down to 74.5k) that immediately gets bought back up, or if we print a strong 1H green candle closing back above 75.9k, I'll take a long.
· Target: 77k (the 1H 99 MA).
· Stop Loss: Hard stop below 74.5k. If we lose that, the next stop is probably 72k.
⚠️ The Short Play: If we lose 74.8k with strong volume, the chart is wide open to the downside. I'll look to short the retest of 74.8k as new resistance, targeting 73k or lower.
Right now, patience is the name of the game. The market needs time to digest this massive drop. I'm waiting for the 15m chart to give me a clear structure before touching it.
Are you guys buying this dip, or waiting for lower? Let me know below! 👇
Always manage your risk!
$BTC $ETH $BNB@Bitcoin
#bitcoin #CryptoTrading #BTC #BinanceSquare #trading
