BTCUSD: Short term sell setup - Long term buy opportunity ahead

Oct 8

🔁 Review of Yesterday’s Plan

After BTCUSD rallied and set a new high at 126,190, the market entered a corrective phase.

In yesterday’s plan, we expected that:

• Once the H1 candle closed below EMA, BTC could continue its decline and retest the lower support zone.
  
• After touching support, price might pause briefly, then break lower to continue the downtrend.
  
• Currently, BTCUSD has broken below and is consolidating sideways within a narrow range on H1, aligning perfectly with the anticipated correction scenario.
  

📈 Trading Plan for Today

On the H1 timeframe
Two key levels to watch for the Sell plan:

• Resistance: 123,449
  
• Support: 121,293
  

Scenario 1:

If price fails to break above EMA and keeps consolidating near 121,238While staying below EMA, → wait for a BB (Break Block) confirmation → Sell following the breakout signal.
Scenario 2:

If price retraces toward EMA and moves up to test 123,471→ wait for bearish confirmation around resistance to Sell from that level.
On the Daily timeframe

After the strong rally, BTC is now undergoing a technical correction.
The plan is to wait for price to pull back to retest the upper boundary of the previous range around 116,995, and Buy from that area.
Alternative setup:
If price reaches EMA sooner without testing the 116,995 zone,→ wait for BTC to accumulate momentum, then look for DD (Double Doji) / FB (First Breakout) pattern confirmation → Buy after signal confirmation.

🎯 Summary:

• Short-term (H1): Bearish correction.
  
• Mid-term (Daily): Bullish bias intact, waiting for confirmation near support.
  

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Daniel Miller @ ZuperView

Oct 9

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