Bitcoin (BTC/USDT) Bearish Breakdown: Price Drops with Further D
This chart is a Bitcoin/USDT (BTC/USDT)
Key Observations:
1. Downtrend Pattern:
The price is in a clear downtrend, as indicated by the curved red and blue downward channel.
A bearish momentum is evident, with multiple price levels showing declines.
2. Price Declines and Targets:
The price dropped by -4,538.43 USDT (-4.48%) in 1 day and 10 hours, reaching 97,896.12 USDT.
A further drop of -5,255.01 USDT (-5.19%) is projected within 1 day and 19 hours, reaching 96,072.88 USDT.
3. Failure Zone:
A "FAILURE" label is marked near the lower price target, indicating a possible breakdown zone where further declines might occur.
4. Resistance and Support Levels:
98,542.86 USDT is a key level where price is currently at (as per the latest timestamp).
96,000 USDT region is a critical support level.
Conclusion & Possible Next Moves:
Bearish Sentiment: The price action suggests further downside pressure, possibly testing the 96,000 USDT level.
Potential Breakdown: If support at 96,000 USDT fails, more downside risk could follow.
Reversal Signal?: A strong bounce from support zones would be required to shift momentum back to bullish.
Trading Considerations:
If you’re shorting BTC, consider trailing stops to protect profits.
Key Observations:
1. Downtrend Pattern:
The price is in a clear downtrend, as indicated by the curved red and blue downward channel.
A bearish momentum is evident, with multiple price levels showing declines.
2. Price Declines and Targets:
The price dropped by -4,538.43 USDT (-4.48%) in 1 day and 10 hours, reaching 97,896.12 USDT.
A further drop of -5,255.01 USDT (-5.19%) is projected within 1 day and 19 hours, reaching 96,072.88 USDT.
3. Failure Zone:
A "FAILURE" label is marked near the lower price target, indicating a possible breakdown zone where further declines might occur.
4. Resistance and Support Levels:
98,542.86 USDT is a key level where price is currently at (as per the latest timestamp).
96,000 USDT region is a critical support level.
Conclusion & Possible Next Moves:
Bearish Sentiment: The price action suggests further downside pressure, possibly testing the 96,000 USDT level.
Potential Breakdown: If support at 96,000 USDT fails, more downside risk could follow.
Reversal Signal?: A strong bounce from support zones would be required to shift momentum back to bullish.
Trading Considerations:
If you’re shorting BTC, consider trailing stops to protect profits.
Transakcja zamknięta: osiągnięto wyznaczony cel
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