Bitcoin (BTC) Price Analysis
hello traers,today we’re analyzing Bitcoin (BTC) across multiple time frames to identify key market movements and potential trade opportunities. Let’s dive into the technical breakdown.
Monthly Time Frame Analysis
Looking at the monthly chart, Bitcoin has shown a strong bullish move, reaching its Fibonacci 1.618 level. However, for the past two to three months, the price has remained stagnant, signaling a potential deep retracement.
Key Observations on Monthly Chart:
✅ Strong buy momentum previously
✅ Stalled price movement at the Fibonacci extension level
✅ High probability of a retracement before the next move
Daily Time Frame Analysis
Switching to the daily chart, Bitcoin has formed a double top pattern, followed by a liquidity sweep. This indicates that sellers are gaining control.
Potential Bearish Scenario:
📉 If the double top support is broken with strong momentum, it could trigger a sell opportunity during the retracement.
📉 A confirmed breakout of the double top structure may drive BTC’s price lower, targeting $68,466.27 as a key level.
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| daily TF |
Trading Strategy & Conclusion
🔸 For sellers: A breakout below the double top with strong volume could provide a shorting opportunity down to $68,466.27.
🔸 Risk Management: Always use stop-loss orders and position sizing to manage risk effectively.
Stay updated, trade wisely, and manage risk accordingly. Happy Trading!
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