"Bitcoin Rejection at Resistance – Will 98K Support Hold?"
This is a Bitcoin (BTC/USDT)
Market Structure & Key Levels
Resistance: Around 102,000 USDT (Upper Blue Line)
Support: Around 98,000 USDT (Lower Blue Line)
Current Price: 100,484.97 USDT
Pattern & Expected Move
The price has failed to break above resistance and is showing signs of rejection.
A lower high formation is developing, suggesting a potential bearish move.
The red arrow suggests that price may retest resistance, form a rejection, and then drop toward 98,000 USDT support.
If the support at 98,000 USDT breaks, we could see further downside continuation.
Trading Plan
🔹 Bearish Scenario:
Watch for bearish rejection near resistance (~101,000-102,000).
Potential short entry targeting 98,000 with a stop above 102,000.
If 98,000 breaks, next target could be 95,000-96,000.
🔹 Bullish Scenario:
A strong break & close above 102,000 USDT would invalidate the bearish setup.
If that happens, BTC could aim for 105,000+ USDT.
Market Structure & Key Levels
Resistance: Around 102,000 USDT (Upper Blue Line)
Support: Around 98,000 USDT (Lower Blue Line)
Current Price: 100,484.97 USDT
Pattern & Expected Move
The price has failed to break above resistance and is showing signs of rejection.
A lower high formation is developing, suggesting a potential bearish move.
The red arrow suggests that price may retest resistance, form a rejection, and then drop toward 98,000 USDT support.
If the support at 98,000 USDT breaks, we could see further downside continuation.
Trading Plan
🔹 Bearish Scenario:
Watch for bearish rejection near resistance (~101,000-102,000).
Potential short entry targeting 98,000 with a stop above 102,000.
If 98,000 breaks, next target could be 95,000-96,000.
🔹 Bullish Scenario:
A strong break & close above 102,000 USDT would invalidate the bearish setup.
If that happens, BTC could aim for 105,000+ USDT.
Trade closed: target reached
🎉 Target Hit Successfully! 🚀 🎯
Another successful analysis in the books! 📊 My BTC/USDT prediction played out just as expected, proving once again the power of technical analysis. A big thank you to all my followers for trusting my insights! 💪
This is just the beginning—more wins ahead! Stay tuned for more updates and profitable setups. 🔥📈
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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.
Related publications
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.