BTCUSD Potential Forecast | 3rd March 2023
Fundamental Backdrop
1. Cryptocurrency movement continues to be muted.
2. Bitcoin have a long way to retrace further.
Technical Confluences
1. Price has rejected off a H4 area of resistance.
2. Strong bearish momentum ensued.
3. Currently price is flirting the H4 level of support at 22500.
4. Price have potential to come lower to the next H4 level of support at 21400.
5. Price is resting well below the ichimoku cloud, signifying bearish intent.
Idea
Looking for short positions to enter into the market to take price down to the H4 level of support at 21400.
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
1. Cryptocurrency movement continues to be muted.
2. Bitcoin have a long way to retrace further.
Technical Confluences
1. Price has rejected off a H4 area of resistance.
2. Strong bearish momentum ensued.
3. Currently price is flirting the H4 level of support at 22500.
4. Price have potential to come lower to the next H4 level of support at 21400.
5. Price is resting well below the ichimoku cloud, signifying bearish intent.
Idea
Looking for short positions to enter into the market to take price down to the H4 level of support at 21400.
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
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