$BTC - SHORT Setup
Entry: 88,700 – 89,000 (On rejection from this resistance zone)
Target 1:87,500
Target 2:86,800
Stop Loss:89,300 (Above the recent high)
My View:
BTC is trading near the top of its recent range after a bounce from the 24h low.The price is now approaching a critical resistance confluence defined by the 24h high (88,594.0) and the psychological level near 89,000. The order book shows a dominant Ask volume (80.47%), indicating massive selling pressure is stacked just above the current price. While the asset is in a macro uptrend, the current price action shows a clear rejection from higher levels and the momentum of the bounce is waning, suggesting a potential pullback to retest support. The plan is to enter a short position on a confirmed rejection from the defined resistance area, anticipating a corrective move back towards the recent consolidation zone and the 24h low.
Bias: Bearish for a pullback below 89,000. A break and hold above 89,300 would signal a resumption of the bullish momentum.
Disclaimer:My plan. Not advice. Trade your own risk.
