Bitcoin Short Signal | 4-Hour Timeframe
2024-11-03

🟣 Entry Point: Bitcoin recently lost the key support level at $68,800 with a strong bearish candle, signaling sellers’ intent to push the price further down. This break opens an opportunity for a short position.

🟢 Technical Analysis: The $65,000 level stands as an important dynamic support. This level aligns with a trendline connecting two major lows at $49,000 and $52,500. If the price reaches this zone, buyers may temporarily halt the decline. However, if $65,000 breaks with strong selling pressure, Bitcoin may likely target lower levels, indicating a further weakening in the market structure.

🔴 Key Levels:

    Entry: After breaking and consolidating below $68,800
    First Target: $65,000, as a dynamic support level
    Second Target: If $65,000 breaks, there is potential for a move toward lower support levels