📉 $BTC Bearish Confirmation: Head & Shoulders + FVG Retest! 📉
Technical Analysis:
Bitcoin ($BTC) is showing heavy distribution on the 5-minute chart. We’ve just witnessed a classic Head and Shoulders pattern completion, followed by a sharp breakdown of the ascending trendline.
Currently, the price has pulled back to retest the Fair Value Gap (FVG) and the broken trendline, which is now acting as strong resistance. This confluence suggests a high-probability move to the downside as sellers take control.
🔻 Short Trade Setup:
Entry Zone: CMP
Stop Loss (SL): $76,486 (Above the right shoulder/resistance)
Leverage: 5x - 10x (Manage your risk carefully)
🎯 Take Profit (TP) Targets:
TP1: $75,893
TP2: $75,571
TP3: $75,249
💡 Trading Insight: The rejection at the FVG is the key confirmation here. If BTC fails to reclaim the $76,350 level, we expect a rapid slide toward the TP levels. Always secure partial profits at TP1 and move your SL to break even!
What’s your sentiment? Are we heading for a deeper correction or is this just a trap? Let’s hear your views! 👇
TRADE $BTC HERE👇
