Hey Traders! ? Bitcoin is currently hovering around its last major support level on the chart. This level is critical because if it breaks, there’s little to no significant support until the $72,500 mark. Such a scenario could open up a substantial shorting opportunity with an attractive risk-to-reward ratio. Let’s dive into the setup: The Setup ? Current Price: Testing the final support level. ? Potential Move: If Bitcoin breaks this support, we could see a sharp drop towards $72,500—a potential 20% downside from current levels. ⚠️ Stop-Loss: To manage risk, we’ll set a stop-loss at 5% above the current price. Why This Trade? 1️⃣ Weak Support Below: If this last support fails, Bitcoin has a clear path to $72,500, where the next significant buying interest might appear. 2️⃣ Favorable Risk-to-Reward Ratio: A 20% potential profit vs. a 5% stop-loss offers a 4:1 reward-to-risk ratio, making this trade highly appealing for short-sellers. 3️⃣ Market Sentiment: Current market conditions suggest selling pressure outweighs buying interest, increasing the likelihood of a breakdown. Key Levels to Watch Support: $72,500 (next major level) Resistance: Current support line (monitor closely for a break or bounce) Risk Management As always, this trade requires disciplined risk management. Set stop-losses to protect your capital, and avoid over-leveraging in case of sudden reversals. What’s Your Play? Do you agree with this bearish outlook, or do you think Bitcoin will hold the line and bounce back? Share your thoughts and charts in the comments below! Disclaimer: This is not financial advice. Always do your own research and trade responsibly. Let’s see how this critical support level plays out—good luck, and happy trading! ??
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