BTC Breakdown Stp Bearish triangle Sell below $60.5k target 58k$Chart Overview:
Asset: BTC/USDT (Bitcoin)
Chart Type: Candlestick
Timeframe: Likely intraday (short-term, possibly 15m or 1h)
Indicators/Tools Used:
Trendlines
Support/Resistance levels
Pattern formation (possible descending triangle)
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Technical Analysis:
🔻 Bearish Bias (Sell Signal):
Pattern: A descending triangle pattern is visible—typically a bearish continuation pattern.
Lower Highs: Indicates selling pressure increasing over time.
Flat Support Zone: Around $60,500–$60,600. Price is testing this zone repeatedly.
Breakdown Likely: If price breaks and closes below this support, a sharp drop can be expected.
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📉 Put Direction: Sell BTC
Entry (Sell): On break below $60,500
Target 1: $59,200 (near previous consolidation zone)
Target 2: $58,000 (measured move from triangle)
Stop Loss: $61,000 (above descending trendline)
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✅ Summary:
BTC is under pressure below resistance and forming lower highs.
If it breaks $60,500 support, a downward continuation is expected.
Strategy: Sell on breakdown, target $58,000 short-term.
