$BTC Analysis of D1 and 4H
The first image (daily chart) shows BTCUSD in a downtrend, finding support near $81,300 (Fibonacci 0%). A Fibonacci retracement from a recent high suggests resistance around $85,000 (50%) and $86,000 (61.8%).
The second image (4-hour chart) highlights a descending move, followed by a bullish correction inside a parallel channel. The 50% retracement at $85,000 aligns as a potential resistance.
Trade Setup:
Short Setup (Preferred)
Entry: Around $85,000 - $85,200 (50% Fibonacci & previous resistance).
Stop-Loss: Above $86,500 (above 61.8% retracement).
Take-Profit:
TP1: $82,000 (recent low).
TP2: $81,300 (Fibonacci 0% level).
TP3: $80,000 (psychological support).
Alternative Long Setup (Riskier)
If BTCUSD holds above $82,000, a long entry may be considered with:
Entry: $82,000 - $82,500.
Stop-Loss: Below $81,200.
Take-Profit: $84,500 - $85,000.
