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1. Downward Trend: Price is in a clear downtrend from highs around 144.00 to current levels near 133.14. 2. Lower Highs & Lower Lows: Each peak is lower than the previous (137.76, 135.85, 134.94), confirming bearish momentum. 3. Break of Support: Price has broken below the 134.94 and 132.90 support levels. 4. Bearish Order Book Imbalance: Current SELL order (133.13) is lower than BUY (133.14), but thin order book depth suggests weak buying interest. 5. Declining Volume: Low trading activity (volume = 6) indicates lack of bullish conviction. 6. Next Support Far Below: Immediate support is around 130.45, with major support near 124.00. 7. Moving Average Resistance: Price is trading well below the declining moving averages (e.g., 70.07, 70.38), indicating sustained bearish pressure.
Bearish Outlook:
· A break below 132.90 could lead to a test of 130.45, then 124.00. · Resistance is strong near 134.94–135.85. A failure to reclaim 135.85 keeps the bearish structure intact. · The 4-hour chart shows no signs of reversal; further downside is likely if momentum continues.
Recommendation: Consider short positions on a break below 132.90 with targets at 130.45 and 124.00. Use tight stops above 135.85. $BTC $ETH $BNB