If Bitcoin reaches $90,000, there may be potential for a short-term pullback due to a stop-loss (SL) hunt scenario, where larger market players could push prices up to trigger stop orders before initiating a drop. For this short position, watch for signs of exhaustion around $90K on shorter timeframes, or look for bearish confirmation such as a rejection pattern or increased selling volume after a wick above key resistance.
Using a tight stop-loss just above $90K can manage risk if the SL hunt causes volatility.
Using a tight stop-loss just above $90K can manage risk if the SL hunt causes volatility.
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Trade was activated Trade closed: stop reached
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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.