Expert opinion: bearish #BTC (from Copytrading.cc)
Bitcoin has been in a downtrend since late July 2024, and the market has had difficulty maintaining higher levels.
The orange moving average leads the downtrend and acts as a dynamic resistance level, maintaining bearish momentum. Prices may fall further to the $48,000-$49,000 range. If the $51,187.9 level is broken, a larger decline may occur. The decreasing volume shows that the bulls are losing control.
Trade setup:
Entry point: $58,648.1
Stop loss: $63,113 (9.20% above the entry point), which is above the recent resistance level.
Target point: $51,187.9 (11.31% below the entry point), which is consistent with the key support level, reaching this point will confirm the bearish trend.
Risk/reward ratio: 1:1.23, relatively balanced considering the market conditions. #内容挖矿
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