Bitcoin (BTC) has recently faced rejection at the 43800 resistance level, prompting many traders to wonder about its future direction. With a major support level at 42000, there is a higher possibility of BTC hitting this area if the resistance is broken. However, if the bearish trend continues, BTC may decline towards 40700 to 41500 levels.
In light of the current market situation, a short trade on BTC could be considered risky. Traders might consider shorting BTC between the ranges of 42650 to 42600, with a leverage of 20x. The potential target levels for this short trade could be set at 42400, 42200, 42050, 41850, and 41500. To manage the risk, it is recommended to set a stop-loss at 43000.
As always, it is crucial for traders to conduct their own research (DYOR) and carefully analyze the market conditions before making any trading decisions. The cryptocurrency market can be highly volatile, and it is important to stay updated with the latest news and trends.
Disclaimer: This article is not financial advice and should not be interpreted as such. The mentioned price targets and trade suggestions are based on the current market analysis and should be approached with caution.