After a period of significant growth, Bitcoin appears to be entering a potential pullback phase. Traders should keep an eye out for opportunities to capitalize on a short entry in the coming days as key levels are reached. Let’s dive into the current analysis and look at potential target areas for short traders.

📍 Short-term entry area: $91,000 - $92,500

As Bitcoin surges, it is currently testing resistance in the $91,000-$92,500 range, which could act as a short-term entry zone for short positions. This zone is important because it aligns with the resistance points of the current trend and could signal the start of a potential pullback.

📍 Price reduction order block: What to pay attention to

Technically, this area can be considered a “bearish block”. If Bitcoin fails to break above this range, with a 1-hour (1H) candle closing below it, we could see bearish pressure taking control, potentially triggering a deeper pullback. This would make the sub-$91,000 area a key point for a sustained bearish move.

🔻 Target zone for short positions

If Bitcoin starts to decline from the bearish block, here are the key support levels we are watching:

  • Goal 1: $86,000.
    This first level could provide a short-term area to take profits as it is located just below the order block and could act as an important support zone.

  • Goal 2: $81,000
    If the downside momentum is strong, we could see Bitcoin test deeper support levels around $81,000, a psychological level for many traders. This could open up a second opportunity to take profits.

🚨 Risk Management: Stop Loss Level

To manage risk, consider placing a stop-loss order on any 1H candle that closes above $93,200. This level will act as a protective mechanism in case Bitcoin unexpectedly rises above the expected resistance level, helping to limit potential losses in the event of a sudden bullish breakout.

📈 Summary

In summary, the Bitcoin market is presenting a potential short-selling setup, with $91,000 - $92,500 being a prime entry zone for traders looking to capitalize on the pullback. With targets set and risk management in place, now is the time to stay alert, monitor the trend closely, and manage your trading positions responsibly.