Given Bitcoin's recent decline below $80,000 and the ongoing market volatility, here’s a potential trade setup based on technical and fundamental analysis:
📈 Long Entry (Buying Opportunity)
Ideal Entry: $77,500 – $79,000 (Key support zone)
Confirmation: Look for bullish price action, such as a strong bounce or high buying volume near this level.
Stop-Loss: Below $76,000 (To limit downside risk)
Targets:
TP1: $82,500 (Previous support turned resistance)
TP2: $85,000 (Psychological level)
TP3: $88,500 – $90,000 (Key resistance from recent highs)
📉 Short Entry (Bearish Continuation Trade)
Ideal Entry: $81,000 – $82,000 (If Bitcoin fails to reclaim this level)
Confirmation: Watch for rejection signals (e.g., wick rejections, bearish engulfing candles, or increasing sell volume).
Stop-Loss: Above $83,500 (Invalidation level)
Targets:
TP1: $78,500 (Recent support zone)
TP2: $75,000 (Key psychological level)
TP3: $72,000 (Deeper retracement support)
Market Conditions to Watch:
If Bitcoin holds above $82,000, it could indicate a short-term rebound.
If selling pressure continues, a drop toward $75,000 – $72,000 is possible.
Monitor macroeconomic news (tariffs, regulatory updates, or major exchange events).
Would you like a more refined risk management strategy for these trades?