Headline: 🚨 $BTC REJECTION FROM $71,977 SUPPLY ZONE! | SHORT SETUP 🚨
Market Update:
$BTC has faced a strong rejection from the major supply zone (Red Box) near the $71,977 level. The bulls failed to sustain momentum above $71k, and we are now seeing a shift in price action on the 4H timeframe.
Technical Insights:
Supply Zone Rejection: Price hit the upper resistance and formed high wicks, showing heavy selling pressure.
Liquidity Target: There is significant liquidity resting near the red trendline and the blue demand zones ($66.5k - $67k).
Structure Shift: After hitting a "Weak High," the market is looking for a deeper correction to retest previous support levels.
Trading Signal (Sell/Short):
📉 Entry Zone: $68,212 - $69,100
🎯 Target 1: $67,000 (Trendline Support)
🎯 Target 2: $65,500 (Major Demand Zone)
🎯 Target 3: $64,800 (Structural Liquidity Sweep)
🛑 Stop Loss: $71,800 (Above the recent high)
⚠️ IMPORTANT NOTE:
Trading involves significant risk. Everyone must manage their own Risk Management and perform their own Research (DYOR) before entering any trade. I am only providing my personal technical analysis and market outlook; this is not financial advice.
What’s your plan? Are you shorting the rejection or waiting for a dip-buy? Let’s discuss below! 👇