BTCUSDT Once a position moves into profit it is prudent to adjust the stop-loss to the entry point. This risk management technique is not designed to prematurely exit the trade but rather to safeguard capital in the event of an adverse market reversal
🚨 UPDATE: As posted 2 hours ago, if the support at 106,750 breaks, BTC is likely to test the next support zone at 105,500 and 104,300.
Additionally, the breakdown from the bullish pennant pattern has shifted the short-term outlook to bearish. If the daily candle fails to hold above the 105,500–104,300 support area, the next key levels to watch are 102,000, and potentially down to the pennant’s measured targets near 97,500.
Closely monitor daily closes for confirmation of momentum. 👍
BTCUSDT current structure suggests the cycle may already be exhausted. Much of the bullish narrative including spot ETF approvals and halving optimism was front-run 4 months ahead in early 2024, resulting in an aggressive price surge well ahead of the actual events. Since then, momentum has faded, and price has entered a prolonged distribution phase.
Meanwhile, the macro environment has flipped. The Fed’s "higher for longer" stance leaves little room for speculative assets to thrive. With tightening liquidity, elevated valuations, and no new catalyst in sight, risk appetite is diminishing rapidly.