Bitcoin is approaching a key decision point at the top of its descending channel. After bouncing off $100K support and reclaiming the midline, price is now pressing against the upper trendline near $112K. The MACD has just flipped bullish, and momentum is turning upward. However, BTC has repeatedly failed at this level over the last two months, forming a clear resistance zone.
This trade is structured as a short from resistance with tight invalidation above $112K. The setup offers a favorable risk/reward if this rejection holds and BTC pulls back to the $97K–$98K zone.
Entry: ~$108K
Stop: ~$112K (channel breakout)
Target: ~$97.5K (lower channel support)
If BTC breaks and holds above $112K, that would invalidate the short thesis and likely flip the structure toward a full breakout scenario.
This trade is structured as a short from resistance with tight invalidation above $112K. The setup offers a favorable risk/reward if this rejection holds and BTC pulls back to the $97K–$98K zone.
Entry: ~$108K
Stop: ~$112K (channel breakout)
Target: ~$97.5K (lower channel support)
If BTC breaks and holds above $112K, that would invalidate the short thesis and likely flip the structure toward a full breakout scenario.
Trade active
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.