BTC/USDT - Potential Sell Opportunity
2025-01-03
Category: None

Timeframe: 1-Hour (H1)
Analysis:
The price is currently trading within an ascending channel and is approaching a key resistance zone labeled as the Sell Zone around $97,300. This zone aligns with the upper boundary of the channel, suggesting a potential reversal.

Trade Plan:

1. Sell Entry:
Look for confirmation (e.g., bearish candlestick patterns) within the Sell Zone.


2. Stop Loss:
Place the stop loss slightly above the Sell Zone (e.g., $97,800) to manage risk.


3. Take Profit:
Target the lower boundary of the channel around $95,000 to $94,500.


4. Market Context:
Monitor overall market sentiment and key support levels in case the price breaks below the channel.



Risk Management:
Maintain a risk-reward ratio of at least 1:2 to ensure an optimal trade setup.