BTC/USD : Monitoring for a Short Opportunity Amidst Resistance

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The BTC/USD pair is exhibiting signs of a potential reversal, particularly as it struggles to break above the **$63,400** resistance zone. Here are the key points to consider:

1. The price has faced rejection at the **$63,400** level, indicating strong selling pressure.

2. A significant break below the **$62,000** mark would serve as a robust confirmation for a short position.

3. Traders may also consider waiting for a retracement back to the **$63,400** area, where liquidity can be gathered before initiating short trades.

4. This strategy allows for optimal entry points in anticipation of a downward move.

Conclusion :

BTC/USD's current struggle at the resistance level suggests a possible trend reversal, providing a potential opportunity for short trades.

Advice :

Monitor the price closely for a break below **$62,000** or a retracement to **$63,400**. Both scenarios could offer strategic entry points for a short position, ensuring proper risk management with set stop-loss orders.