Coin Name: $BTC
Position: Short
Entry Price: 106,404
BTC is moving within an ascending channel on the 1-hour chart. On the 15-minute timeframe, a potential double top is forming near the channel’s upper trendline, indicating a possible reversal. RSI is holding within the supply zone, suggesting strong selling pressure. If price retests the trendline and confirms resistance, a short position could be considered with a 1:2 risk-reward ratio, only with proper risk management and at your own discretion.
On the 12-hour timeframe, there’s significant liquidity positioned above the current BTC price. This suggests that Bitcoin may move upward in the short term to target and absorb that upside liquidity before any potential reversal or continuation.
On the 1-hour timeframe, USDT.D is moving within an ascending channel. A slight pullback is likely, potentially forming a W pattern accompanied by bullish divergence. If this plays out, a move to the upside is expected. An upward move in USDT.D typically signals risk-off sentiment, which could be negative for the broader crypto market.
Leverage: 10X
Targets:
1st TP 105,000
2nd TP 104,000
3rd TP 103,000
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