Trading idea #GateUKAnalysis


BTC/USDT (4H)
Current price: $63,370
📉 Technical analysis
Trend: Locally bearish. Price broke down below the lower boundary of the ascending channel.
Resistance: $64,000 (former support) and $68,000.
Support: $60,000 (psychological level) and $57,746.3 (Low).
TRIX (18): Firmly fell below zero (-3.16). This confirms the strength of the bearish momentum and further downside.
📊 Trading plan (Short on retest)
🎯 Entry (Short): $63,800 – $64,200 (retest of the channel)
💰 Take-profit: $60,200
🚨 Stop-loss: $65,500
💡 Rationale
BTC broke the upward growth structure to the downside due to a lack of buying volume. The TRIX oscillator signals a ramp-up of bearish momentum. The strategy is trend-following: selling from the mirrored resistance level.
BTC0.98%
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GateUser-509f08f8
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