Tactical Bitcoin Short Opportunity Amid Downtrend

11. Okt.

While we all want Bitcoin to trade higher, as that's where the best risk-to-reward lies, in the very short term, it remains in a downtrend. As long as it trades below the October 7th high of 64,473, the downtrend is expected to continue. A more tactical bearish entry could be between 61,486 and 62,810, which are key levels below the 64,473 high. This range offers a favorable risk-to-reward ratio, with downside targets at the recent low of 58,887 and potentially 57,294. What is your take on BTC?

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