BTC/USD Short Setup – Resistance Rejection Expected
Bitcoin is currently testing a strong resistance zone near $120,000, a level that has repeatedly rejected price action in recent sessions (highlighted with orange circles). This level has proven to be a tough barrier, and the price has shown signs of weakening after retesting it.
We're eyeing a potential short opportunity from this zone, targeting the strong support area around $115,000. Risk/reward setup is favorable, with a tight stop above resistance. This setup aligns with prior swing highs and lows, as marked on the chart.
🛑 Resistance Zone: 120,000 – 121,000
🟢 Target Zone: 115,000 – 115,500
📉 Stop Loss: Above 120,700
⚠️ Not financial advice – trade at your own risk. Use proper risk management.
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Bitcoin is currently testing a strong resistance zone near $120,000, a level that has repeatedly rejected price action in recent sessions (highlighted with orange circles). This level has proven to be a tough barrier, and the price has shown signs of weakening after retesting it.
We're eyeing a potential short opportunity from this zone, targeting the strong support area around $115,000. Risk/reward setup is favorable, with a tight stop above resistance. This setup aligns with prior swing highs and lows, as marked on the chart.
🛑 Resistance Zone: 120,000 – 121,000
🟢 Target Zone: 115,000 – 115,500
📉 Stop Loss: Above 120,700
⚠️ Not financial advice – trade at your own risk. Use proper risk management.
---
🙏 If you find this idea helpful, please consider supporting the post with a like or comment. Your feedback keeps the content coming. Thank you
Trade closed: target reached
all Target done btcusd Sell reached at $113,000 we achieve 600 pips profit
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.