TP taken thx ;)

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BTC/USDT Short Trade Setup - 4H Chart Analysis
---$BTC

Bitcoin has been displaying strong volatility recently, and the current setup on the 4-hour chart suggests a potential short opportunity. Let’s break down the analysis:

Key Observations:

1. Rising Wedge Breakdown:

The price action was confined within a rising wedge pattern, which typically indicates a bearish reversal.

The breakdown has occurred as expected, with price closing below the lower trendline, confirming bearish sentiment.

2. Resistance Zones:

Primary Resistance: $96,497.58 – This is a critical level where price previously faced rejection.

Secondary Resistance: $99,588.01 – This level caps further upward movement, creating a ceiling for BTC in the short term.

3. Support Levels:

Immediate support lies around $94,467.11.

A deeper correction could see BTC test $94,196.04, with $85,117.03 acting as a key demand zone if the sell-off intensifies.

4. Bearish Divergence on RSI:

The RSI shows a clear bearish divergence; while the price has been forming higher highs, the RSI has been making lower highs. This divergence signals weakening bullish momentum and increases the likelihood of a reversal.

5. EMA Confluence:

BTC is now trading below the 20-period EMA, signaling a short-term shift in momentum to the downside.

A sustained move below this level would validate further bearish targets.

Trade Setup:

Entry: Short position around $94,500–$94,800, ideally after a retest of the broken wedge support as resistance.

Stop Loss: $96,497.58 – Placed above the recent resistance level for safety.

Targets:

TP1: $94,196.04 – Near-term support.

TP2: $85,117.03 – Key demand zone.

Risk Management:

This setup provides a favorable risk-to-reward ratio. Ensure proper position sizing and stick to the stop loss to avoid unnecessary losses in case of invalidation.

Conclusion:

This short setup is based on technical signals, including the wedge breakdown and RSI divergence, suggesting a bearish continuation. However, always monitor for macroeconomic events and news that could impact BTC’s trajectory.

Stay updated for further developments!
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