Short signal alert
Short Position Plan
Entry Zone: $119,200 โ $119,800
Stop Loss: $120,950 (above the 24h High)
Take Profit 1: $117,500
Take Profit 2: $115,500
๐ Market Overview (BTCUSDT โ 1D Chart)
Price: $118,838.80
24h High: $120,951
24h Low: $117,412
RSI (6): 70.2 โ Market is in the Overbought zone
MACD: Still positive but showing signs of weakening
Candles: Trending upward, but the current candle shows indecision
Volume: Slightly decreasing, indicating buyers may be losing momentum
๐ Technical Insights
RSI above 70 suggests the market is overbought and may be due for a pullback
MACD remains positive but is flattening out โ showing potential early signs of a slowdown
Price made a new high, but the current daily candle is weak, indicating uncertainty
๐ง Decision Summary
Position Verdict
Long โ Not recommended now. RSI is too high, and momentum is slowing.
Short โ Can be considered with proper risk control. Market looks slightly exhausted.
๐ Short Position Plan
Entry Zone: $119,200 โ $119,800
Stop Loss: $120,950 (above the 24h High)
Take Profit 1: $117,500
Take Profit 2: $115,500
> โ ๏ธ If BTC breaks above $120,950 with volume, close the short immediately โ this would confirm a breakout.
