#BTCUSDT

▪️ Trade: Buy limit order
▪️ Entry: 73,440
▪️ Take profit: Open
▪️ Stop loss: 68,800
▪️ Valid until: Canceled
Market outlook:
We’re continuing to watch Bitcoin for a long entry. Our previous trade caught an upward impulse, allowing us to close 50% of the position in profit. Yesterday, the remaining half was stopped out at breakeven as the selloff more than erased the preceding rally.
What triggered the decline? The selloff in technology stocks spilled over into crypto. BTC is currently behaving like a high-risk tech stock rather than digital gold. Yesterday, the Nasdaq fell 5.5% and semiconductor stocks dropped 12%. Funds cut risk across the board, with crypto among the first assets to be sold. The entire post-election rally disappeared in a single session.
Still, another order block formed during the decline, suggesting buyers are stepping in. That has yet to translate into a bullish trend: price continues to make lower lows without breaking previous highs, forming a descending channel.
Today’s U.S. nonfarm payrolls report is due at 16:30 Moscow time (13:30 UTC) and could trigger another sharp move in BTC. We’re watching two scenarios:
• Primary scenario: A long squeeze drives price toward 72,850 , where major crypto exchanges reportedly show substantial limit buy orders. We’re looking for a short-term rebound following a test of that support.
• Alternative scenario: Price consolidates, then breaks and holds above 76,400 , opening the door to a short-term rally. For now, that level remains resistance.
Our buy limit is at 73,440 , positioned above the key support at 72,850.
Risk management:
The stop loss is set at 68,800 , below the 70,000 level. This provides room for a false breakdown while defining the trade’s initial risk.
Targets:
The first objective is 76,400 , where we will move the stop to breakeven. In this market, protecting the position promptly is a priority.
Next comes 80,000 , where we plan to take partial profits. If the broader backdrop supports a recovery, 83,000 could follow. For now, we’re leaving the take profit open and managing the position as price develops.
Alternative entry:
Set an alert at 76,400 . If BTC rallies before reaching our limit order and establishes itself above that level, a retest with a clear bullish setup could offer another long entry.
For that alternative setup, the stop would sit below 72,850 , with upside targets at 80,000 and 83,000 .
The limit order remains active until canceled. Once filled, we’ll provide position updates. The setup meets our trading system’s criteria.
Wishing everyone profitable trading and a cool head this Friday 🤝
Trade updates: https://t.me/addlist/1tRFE2bSkE04MWNi