$BTC
1. Current trend: Downtrend (decrease)
The price is below important MA lines (MA7, MA30), confirming that the downtrend continues to dominate.
2. Short trading plan:
Entry:
Good entry: Wait for the price to pull back to the resistance area of 96,700 - 98,200 (MA7 and MA30). This is a price range likely to be rejected.
If there is a bearish reversal candle signal in this area (such as a Doji, Shooting Star), a Short trade can be entered.
Stop Loss:
Set the stop loss above the nearest strong resistance area, around 99,000 - 100,000, depending on risk tolerance.
Take Profit:
Take profit targets:
Target 1: 92,500 (recent low, short-term support).
Target 2: 72,140 (stronger support in a larger timeframe).
Target 3: 52,700 (deep support, if the downtrend is stronger).
3. Risk:Reward ratio:
If entering a Short position at 96,700, with a stop loss at 99,000, the first target is 92,500:
Risk: 2,300 USD.
Profit: 4,200 USD.
=> R:R ratio is approximately 1:1.8.
