Bitcoin Pullback Strategy Analysis
2024-11-13

HELLO GUYS.

Current Trend: Bitcoin is currently in an upward channel, but showing signs of potential consolidation or pullback.

Key Support Zone: The first highlighted blue zone, which is around $85,500, serves as the immediate support. A break below this level could trigger a bearish move.

Short Position Opportunity: If the price breaks below the support zone, wait for a pullback into the previous support (now resistance) to enter a short position.

Target Zones: The next potential target zone for this short position lies around the lower support near $82,900.

Risk Management: Monitor for a failed breakdown and reclaim of support, as this could invalidate the short setup.