BTC/USDT Trading Strategy – Update on June 17
1. Short Position (priority):
• Entry: 108.800
• Stop Loss: 109.100
• Take Profit: 106.500
• ✅ Reason: BTC has approached the strong resistance zone 108.800–109.200 (the nearest peak in the retracement wave). The short-term price structure is forming a distribution pattern, the 1H frame shows clear weakening signals.
• ⚠️ Risk: If BTC strongly breaks 109.200 and closes the 4H candle above this zone, the trend may shift to a breakout upwards.
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2. Long Position: Not recommended to open new positions at this time.
• Consideration zone if there is a strong pullback: 106.300
• Stop Loss: 105.800
• Take Profit: 107.900
• ⚠️ Note: The short-term trend is weakening, the old bottom 106.300 may be breached if the market is sold off. Only open Long when there are clear reversal signals (1H or 4H confirmation candles with high volume and strong pullback from support).
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Trend Overview:
• BTC is entering a strong consolidation zone between buyers and sellers.
• The 4H trend has not yet confirmed a clear upward reversal → prioritize short-term peak catching for Short orders, wait for confirmation if wanting to open Long.
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Important Warning:
• If BTC breaks the level of 109.500 with strong buying pressure, the entire Short strategy may become invalid → need to stop loss quickly.
• Continuously update as BTC is easily influenced by geopolitical news or statements from the Fed during the week.
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Need to monitor the 15-minute and 1H frames in the next hours to confirm if the selling pressure is strong enough to maintain the downward trend or not.