Bitcoin Short at $118,000— Bounce or Breakdown? Plan + Invalida
Snapshot (29 Aug 2025, 12:46 IST)
Technical View
– 4H Resistance- 118000
– Supports: $110k/$109.5k first, then $105k; major shelf at $101k.
– EMAs (20/50/200) bear-stacked; price below cloud → overhead pressure.
– Momentum rolled over (RSI mid-40s; MACD sub-zero); local rising wedge broke down.
Trade Plan
– Long above $113,500 → T1 $114,800, T2 $118,000; SL $111,800; timeframe swing.
– Short below $118,000 → T1 $108,300, T2 $105,000 (stretch $101,000 if momentum); SL $124574; timeframe swing.
Big Picture
Trend is down from mid-Aug highs; month-end data risk can force a break from the $111k pivot.
Technical View
– 4H Resistance- 118000
– Supports: $110k/$109.5k first, then $105k; major shelf at $101k.
– EMAs (20/50/200) bear-stacked; price below cloud → overhead pressure.
– Momentum rolled over (RSI mid-40s; MACD sub-zero); local rising wedge broke down.
Trade Plan
– Long above $113,500 → T1 $114,800, T2 $118,000; SL $111,800; timeframe swing.
– Short below $118,000 → T1 $108,300, T2 $105,000 (stretch $101,000 if momentum); SL $124574; timeframe swing.
Big Picture
Trend is down from mid-Aug highs; month-end data risk can force a break from the $111k pivot.
A Haque
Founder | MyTradingJournal
📊 Financial Market Analyst | Trader | Educator
Founder | MyTradingJournal
📊 Financial Market Analyst | Trader | Educator
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.
A Haque
Founder | MyTradingJournal
📊 Financial Market Analyst | Trader | Educator
Founder | MyTradingJournal
📊 Financial Market Analyst | Trader | Educator
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.