🔍 Structure & Price Action
BTC is trading within a rising wedge (blue lines) nearing apex — typical bearish setup.
Price is repeatedly getting rejected near macro trendline (~108.8K–109K).
30-min shows clean breakdown from lower wedge support, retesting the zone now.
On 4H, BTC is still under key resistance zone between 109.6K–110.4K, previously rejected twice.
🔻 Bearish Signals
Multiple Sell signals on both timeframes.
Bearish divergence visible in RSI and MACD on 4H.
Volume spike on the breakdown → confirming sellers in control.
🔑 Key Levels
Support: 107.7K (current zone) → loss opens path to 106.6K, then 104.4K.
Resistance: 108.9K–109.4K = confluence of EMA cluster + macro TL + Fib zone.
📊 Indicators (4H)
RSI dropping from mid-zone (~48), no bullish momentum
DMI shows increasing ADX with -DI over +DI → trend strengthening bearish
TSI & Wave Trend both curling down
Stochastic in overbought, starting to reverse
🎯 Summary
Bias: Bearish below 108.6K
Invalidation: Bullish breakout above 109.6K + volume close
Setup: Watch for retest and rejection at ~108.4K–108.6K = clean short trigger
Next Targets: 107.2K → 106.6K → 104.5K
BTC is trading within a rising wedge (blue lines) nearing apex — typical bearish setup.
Price is repeatedly getting rejected near macro trendline (~108.8K–109K).
30-min shows clean breakdown from lower wedge support, retesting the zone now.
On 4H, BTC is still under key resistance zone between 109.6K–110.4K, previously rejected twice.
🔻 Bearish Signals
Multiple Sell signals on both timeframes.
Bearish divergence visible in RSI and MACD on 4H.
Volume spike on the breakdown → confirming sellers in control.
🔑 Key Levels
Support: 107.7K (current zone) → loss opens path to 106.6K, then 104.4K.
Resistance: 108.9K–109.4K = confluence of EMA cluster + macro TL + Fib zone.
📊 Indicators (4H)
RSI dropping from mid-zone (~48), no bullish momentum
DMI shows increasing ADX with -DI over +DI → trend strengthening bearish
TSI & Wave Trend both curling down
Stochastic in overbought, starting to reverse
🎯 Summary
Bias: Bearish below 108.6K
Invalidation: Bullish breakout above 109.6K + volume close
Setup: Watch for retest and rejection at ~108.4K–108.6K = clean short trigger
Next Targets: 107.2K → 106.6K → 104.5K
A Haque
Founder | MyTradingJournal
📊 Financial Market Analyst | Trader | Educator
🐦 Twitter: @MyTradingJnl6th
📺 YouTube: @MyTradingJournal6th
Founder | MyTradingJournal
📊 Financial Market Analyst | Trader | Educator
🐦 Twitter: @MyTradingJnl6th
📺 YouTube: @MyTradingJournal6th
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.
A Haque
Founder | MyTradingJournal
📊 Financial Market Analyst | Trader | Educator
🐦 Twitter: @MyTradingJnl6th
📺 YouTube: @MyTradingJournal6th
Founder | MyTradingJournal
📊 Financial Market Analyst | Trader | Educator
🐦 Twitter: @MyTradingJnl6th
📺 YouTube: @MyTradingJournal6th
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.