Hello everyone I share my idea for trading BTC/USDT pairs
The daily chart (4H) shows that we have come out of the ascending triangle downwards, which indicates a bearish direction of price movement. Dislikes show the price resistance to exit from the upper horizontal border of the triangle (WaveTrend also showed a sell signal, which almost found confirmation for the second time).
The price has fallen to the key annual price range of 40000-41000 USD, which at the moment can act as a strong support zone with the potential for an upward price reversal.
At the moment, we are waiting for a retest of the lower border of the triangle with a breakdown of the price down. The key attention is on the price level of 40k. In case of a breakdown of the level down, we are waiting for a fall in the area of 36-34k.
Also, Squeeze Momentum shows the possibility of a strong price movement, so trade with caution.
Also, check some additional resources like "Long/Short ratio" for understanding the "crowd movement"
Take into account the environment in the world. All attention is focused on the Fed's statements, and apparently the market is adjusting to the negative scenario at the moment, and hence the corresponding price movement
80% short, 20% long in my opinion.
The author's opinion may not coincide with yours! When making trading decisions, first of all, conduct your own analysis!
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