Short BTC USD on sideways ranges

BTCUSD Technical Analysis
February 4, 2025
Trade Setup: Short Position

set up : price rejection with bearish candle on 0.382 fib
Trading Range: Sideways consolidation pattern
Timeframe: 4 H

Technical Structure

Price testing major resistance level at 100,223 or 0.382 fib
Sideways trend indicating market indecision on since
Range-bound price action on daily chart
Resistance zone historically significant


Stop Loss: Above range high
Take Profit: Lower range major support at 92k area
Position size: According to risk tolerance