Bitcoin is showing signs of weakness after rejecting the top of the descending parallel channel. This trade idea is based on multiple confluences:
Bearish rejection at key resistance near $110,000–$112,000
Price respecting the descending trendline
0.618 Fibonacci retracement zone acting as potential demand
Risk-reward structure targeting deeper support near $88,500
Previous bullish channel broken – now acting as resistance
📌 Entry near: ~$108517
🎯 Target: ~$88500
🛑 Stop Loss: ~$111980
Looking for further downside continuation if this structure holds. Watch how price reacts at mid-channel and the demand box.
Bearish rejection at key resistance near $110,000–$112,000
Price respecting the descending trendline
0.618 Fibonacci retracement zone acting as potential demand
Risk-reward structure targeting deeper support near $88,500
Previous bullish channel broken – now acting as resistance
📌 Entry near: ~$108517
🎯 Target: ~$88500
🛑 Stop Loss: ~$111980
Looking for further downside continuation if this structure holds. Watch how price reacts at mid-channel and the demand box.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.