Description:
Bitcoin has confirmed a bearish breakdown from the rising trendline support on the 1-hour chart, suggesting potential downside continuation. The price broke below the key ascending structure and retested the zone, which now appears to be acting as resistance. This bearish retest + rejection adds confluence to a sell setup.
Key Observations:
🔹 Trendline Break: Clear violation of the ascending trendline.
🔹 Retest & Rejection: Price rejected near $85,500–$86,000 (previous support turned resistance).
🔹 Bearish Market Structure: Lower highs and lower lows forming after the breakdown.
🔹 Bearish Target: Next key support lies near $82,500.
Bias: Bearish
Trade Setup:
📉 Entry: Below $84,200
📉 Target 1: $82,500
📉 Target 2 (Aggressive): $81,000
🛑 Stop Loss: Above $86,000 (retest zone)
Conclusion:
BTCUSDT has shifted its structure from bullish to bearish with a confirmed trendline breakdown and retest. Unless bulls reclaim $86K+, downside continuation seems likely.
Bitcoin has confirmed a bearish breakdown from the rising trendline support on the 1-hour chart, suggesting potential downside continuation. The price broke below the key ascending structure and retested the zone, which now appears to be acting as resistance. This bearish retest + rejection adds confluence to a sell setup.
Key Observations:
🔹 Trendline Break: Clear violation of the ascending trendline.
🔹 Retest & Rejection: Price rejected near $85,500–$86,000 (previous support turned resistance).
🔹 Bearish Market Structure: Lower highs and lower lows forming after the breakdown.
🔹 Bearish Target: Next key support lies near $82,500.
Bias: Bearish
Trade Setup:
📉 Entry: Below $84,200
📉 Target 1: $82,500
📉 Target 2 (Aggressive): $81,000
🛑 Stop Loss: Above $86,000 (retest zone)
Conclusion:
BTCUSDT has shifted its structure from bullish to bearish with a confirmed trendline breakdown and retest. Unless bulls reclaim $86K+, downside continuation seems likely.
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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.