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BTC/USDT 4-hour chart, here’s my analysis:
Trend Analysis:
Overall Trend: The market seems to be in a short-term bullish retracement within a larger downtrend.
Break of Structure (BOS): The market has shown a BOS to the downside, indicating a bearish trend.
Change of Character (ChoCH): There is a minor bullish ChoCH from the lower demand zone, suggesting a possible retracement.
Key Levels:
Supply Zone (Resistance): Around 85,500 - 86,000 (gray area).
Demand Zone (Support): Around 81,000 - 82,000 (blue area).
Trade Plan:
Short Entry (Sell)
Entry: 85,000 - 85,500 (Supply Zone)
Stop Loss (SL): Above 86,200 (Above supply zone to avoid stop hunt)
Take Profit (TP):
TP1: 82,500 (First demand zone)
TP2: 81,000 (Stronger demand zone)
TP3: 79,500 (Extended TP if downtrend continues)
Long Entry (Buy) - Countertrend (Riskier)
Entry: 81,500 - 82,000 (Demand Zone)
Stop Loss (SL): Below 80,500
Take Profit (TP):
TP1: 84,500
TP2: 85,500
Conclusion:
Primary Trade: Wait for price to reach the supply zone (85,000-85,500) and short.
Alternative: If price rejects from 81,000-82,000, a countertrend buy is possible.
Risk Management: Ensure a minimum 1:2 risk-reward ratio before entering any trade.