A current real-time signal for Bitcoin (BTC) suggests short-term bearish movement, as large inflows of BTC onto exchanges indicate potential sell-offs by major investors, commonly referred to as “whales.” The current market price of Bitcoin is $61,500. Key support levels are at $60,940, $60,710, and $60,500, while resistance levels are observed at $62,100 and $62,300.
A potential trading setup could be as follows:
• Entry: Sell around $61,500.
• Stop Loss: Set at $62,500 to manage risk.
• Take Profit: Target around $60,500, keeping an eye on further dips towards $59,000 if the market weakens.
This setup is supported by technical indicators showing a weak trend (with an ADX of 15.75) and neutral sentiment (RSI at 42), suggesting there may be more downward momentum