Hey Binance Square Family! š
Bitcoin (BTC) is currently trading at $104,585, showing a slight decline of 0.83% for the day.
A compelling short setup is forming on the BTC/USD 30-minute chart, combining key technical elements: Order Block (OB), Fair Value Gap (FVG), and a descending trend channel.
š Technical Breakdown:
Bearish Market Structure: BTC continues to form lower highs and lower lows, respecting the descending trend channel.
Liquidity Sweeps: Recent price action shows liquidity grabs on both buy-side and sell-side, indicating potential for a bearish move.
Premium Entry Zone:
Order Block Zone (OB): $105,200 ā $105,400
Fair Value Gap (FVG): Overlaps with OB, suggesting a strong resistance area.
Fibonacci Levels:
61.8%: $104,987
70.5%: $105,298
79%: $105,388
š Trade Setup:
Entry Zone: $105,280 ā $105,388 (OB + FVG + 70.5ā79% Fib)
Stop Loss (SL): Above $105,400 (above OB)
Target: $103,727 (channel support + -100% Fib extension)
Risk-Reward Ratio (RRR): Over 1:4, indicating a high-probability setup.
š§ Ninja Wisdom:
"You're not chasing moves ā you're waiting where liquidity pools. Fair Value Gaps + OB + Trend Channels = institutional signature. Trade like Smart Money. Let retail chase candles."
ā ļø Risk Management Tips:
1. Set SL Above Key Resistance: Placing your stop loss above $105,400 helps protect against unexpected breakouts.
2. Position Size Control: Allocate only 1-2% of your capital for this trade to manage risk effectively.
3. Monitor Closely: Keep an eye on price action, especially near major support levels, to adjust your strategy as needed.
š Final Thoughts:
This setup aligns with the current bearish market structure and offers a favorable risk-reward ratio. However, always wait for confirmation before entering a trade and manage your risk appropriately.
Stay vigilant, Binance Square fam! Let's navigate the markets wisely. šŖ
*Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Always conduct your own research before making trading decisions.*