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😵 Short 🔴 : Bitcoin (BTC) Encounters Seller Dominance at Resistance
Pair: #BTCUSDT.P
Interval: 1W
Date: 07/10/2024 09:30
Exchange: BingX

Last week, a sharp rejection was observed from the weekly opening to the weekly closing, resulting in a full-bodied candle close without any upper wicks. It is noted that sellers are gradually gaining dominance, and anticipation is on a potential further confirmation with the closure of an additional red candle this week, potentially initiating a significant downward trend. A fire sale is eagerly awaited by market participants.

#BTCUSDT.P is tradable on BingX 🚀💰

#BTCUSDT.P | #BTC | #BingX
😵 Short 🔴 : Potential Shorting Opportunities for Bitcoin (BTC)
Pair: #BTCUSDT.P
Interval: 240
Date: 08/10/2024 09:48
Exchange: BingX

Bitcoin is displaying signs of weakness as the local resistance zone nears, potentially indicating a move towards higher zones. The lower zones are also being approached, presenting two possible scenarios for Bitcoin, both likely leading to a price point near $50K. The market structure's evolution and the response to the current zone above EMAs will determine the next course of action.

#BTCUSDT.P is tradable on BingX 🚀💰

#BTCUSDT.P | #BTC | #BingX
😵 Short 🔴 : Bitcoin (BTC): Seller Dominance Proximity to EMAs
Pair: #BTCUSDT.P
Interval: 240
Date: 10/10/2024 08:24
Exchange: BingX

Bitcoin has experienced a significant rejection from local EMAs, indicating a strong but modest movement. The zone of EMAs has been successfully breached by sellers, potentially leading to a re-test of these levels. The current focus is on the first play towards the lower target zone, which is increasingly seen as an optimal strategy. The EMA is being closely monitored.

#BTCUSDT.P is tradable on BingX 🚀💰

#BTCUSDT.P | #BTC | #BingX