Bitcoin is currently trading between key prices on the 4-hour chart. The information below can help you with short-term trading.
••
𝗖𝗨𝗥𝗥𝗘𝗡𝗧 𝗣𝗥𝗜𝗖𝗘:
Bitcoin is currently trading between approximately 117,700 and 117,800 USD.
•••••••••••••••••••••••••••••••••••••••••••
SUPPORT LEVELS:
(Support levels — prices that are difficult to break below)
🔻 $117,430 — This is near the "moving average 50" of the 4-hour chart.
🔻 $115,000 — This is where the price has previously stopped, called the "pivot zone."
🔻 $110,000 to $112,000 — This is the "base level" of the previous breakout, from which the market moved up.
••••••••••••••••••••••••••••••••••••••••••
𝗥𝗘𝗦𝗜𝗦𝗧𝗔𝗡𝗖𝗘 𝗟𝗘𝗩𝗘𝗟𝗦:
(Resistance levels — i.e. prices that are difficult to break above)
🔺 $120,000 — psychological barrier, the market often falls below this.
🔺 $121,000 to $123,000 — this is close to the old "all-time high", i.e. the highest price in the market.
•••••••••••••••••••••••••••••••••••••••••••
BUY SETUP:
(Buy setup — how to trade when the market is going up)
✅ If the price goes up between $118,000 and $118,500 and then comes back there and stops for a while, then it is called a "breakout" and a "retest". This is a good opportunity to buy.
✅ In such a case, place your "stop loss" at $117,200 to $117,400.
✅ Set these "targets" for profit: • First target: $120,000
• Second target: $121,000 to $123,000
📘 In this setup, if you are investing $100, you may be able to make a profit of up to $200, meaning the "risk reward ratio" is 1:2.
••••••••••••••••••••••••••••••••••••••••••••••••••
SELL SETUP:
(Sell setup — how to trade when the market goes down)
❌ If the price falls below $117,000 and continues to fall instead of stopping there, there may be an opportunity to "short sell."
🔻 In such a case, the target could be $115,000 and then $110,000 to $112,000.
🔺 In this setup, keep the "stop loss" around $118,000.
⚠️ But remember: The general trend of the market is up at this time, so the risk is higher in a downward trade.
••
If you liked the analysis, don't forget to like it.
