btcusd h4 30% correction target 32 000 usd

🔸Hello traders, today let's review 4hourprice chart for BTCUSD and potential
reversal zones. We got a weak bounce in progress since we triggered fresh supply
zone near 46 000/47 000 usd, however limited upside as bulls will face strong overhead
resistances , therefore I still recommend to short sell rips/rallies.

🔸All the positive mid-term catalysts are already priced in the current market price,
there are no further catalysts until BTC halving later in April/May 2024. Therefore,
expecting 30% correction after the distribution stage complete later end of January /
Early February 2024.

🔸Currently we are trading at 42 600 usd, short-term bounces possible later near
40 000 usd, however limited upside going forward. Short-term traders might be
interested in accumulating near 40 000 usd for a TP near 45 000 /46 000 usd.

🔸Recommended strategy for position traders: Wait for the distribution sequence
to complete (final death pump), and short sell rips/rallies near 45 000 USD.
TP1 is 37 000 usd in FEB, 32 000 usd in April. Risk/reward clearly shifted in bears favor.

🎁Please hit the like button and
🎁Leave a comment to support our team!

RISK DISCLAIMER:
Trading Futures , Forex, CFDs and Stocks involves a risk of loss.
Please consider carefully if such trading is appropriate for you.
Past performance is not indicative of future results.
Always limit your leverage and use tight stop loss.

Comment:

dump in progress, moon boys - good night!

Comment:

Bring out The Gimp
The gimp's sleeping
Well, I guess you'll just wake 'em up now, won't you?