Market Analysis: #BTCUSDT💰 On the BYBIT:BTCUSDT.P chart, a clear symmetrical triangle pattern has formed and already broken down, leading to a confirmed bearish impulse. Price has now returned below the POC level at $93,370.4 (Point of Control by volume), indicating weakness from buyers.
📊 Key Levels
🔴 POC BYBIT:BTCUSDT.P $93,370.4
— This is the highest volume area, now acting as strong resistance. As long as price remains below, short bias is favored.
🔵 Support BYBIT:BTCUSDT.P $91,905.5
— A short-term target if the bearish momentum continues.
🎯 Lower Target Zone
— Indicates the full depth of the breakdown move, aiming at the $90,800–$91,000 range.
📈 Volume
➡️ Volume increased during the breakdown, then dropped as price revisited the $93,000 zone — this signals a weak retest and seller control.
📍 Important Notes
➡️ Currently, BYBIT:BTCUSDT.P is trading between two key zones — the POC above and the $91,900 support below.
➡️ Failure to break and hold above $93,370 keeps the bearish scenario in play.
➡️ A move below $92,600 will confirm continuation of the downtrend.
📢 Strategy Recommendations:
🚨 SHORT Scenario BYBIT:BTCUSDT.P
Entry: on a retest of $93,000–$93,200 and rejection
Stop Loss: above POC ($93,450)
Targets: $92,100 → $91,900 → $90,800
🚨 Alternative LONG Scenario BYBIT:BTCUSDT.P (only if POC is broken):
Entry: after a solid breakout and hold above $93,400 with volume
Target: $94,200–$94,800
Stop Loss: below $93,000
🚨 Conclusion :
BYBIT:BTCUSDT.P has completed the triangle pattern and is now in a retest phase. So far, signs still point to bearish continuation, with final confirmation coming from a break below $92,600.
