Hey friends!! According to my analysis, the ideal entry point for Bitcoin is around $79,600–$80,000, depending on your risk management strategy. Personally, I'm leaning towards $79,600.
Why there for a short? Well, Bitcoin has already hit the 0.68 Fibonacci level on the daily chart, and on the 4-hour candlesticks, it's almost overbought on the RSI. So, it looks perfect to take profit down to about $76,900.
Although we can see selling pressure, BTC is struggling to maintain its path, but here we use zero emotion and more logic.
Another thing, be cautious because it might align with the bullish trend, as my 20, 50, 100, and 200 EMAs on the 4H are clearly showing a potential bullish continuation.
If you dig these precise and to-the-point analyses, FOLLOW ME, BUDDY!!
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