$BTC has shown clear signs of rejection after failing to sustain above key resistance with a strong bearish reversal candle on elevated volume.
Price has broken down from the recent consolidation near the highs confirming aggressive seller dominance as distribution takes over following the brief recovery attempt.
This kind of sharp drop below support typically signals strong downside continuation and as long as price remains below the breakdown zone further decline remains highly probable.
Momentum is clearly in favor of bears right now.
Trade Setup (Short)
Entry Range: 87,400 – 87,800
Target 1: 86,500
Target 2: 85,500
Target 3: 84,000
Stop Loss (SL): 88,500
BTC
90,967.01
-1.11%