Bitcoin is currently hugging a descending channel on the 15m timeframe. While we saw a momentary flick above the midline, the bears seem to be defending the upper territory. Here is how I'm playing the current structure:
🔍 The Setup
The intraday trend is leaning bearish. We are approaching a critical Retest Zone near the channel’s ceiling. I’m not jumping the gun; I’m waiting for a clear rejection—look for those long wicks or a bearish engulfing candle before committing.
🎯 Key Levels to Watch
Optimal Entry Zone: ~$88,057 (Watch for price exhaustion here)
The "Exit Early" Line (Invalidation): ~$93,123. If we break and hold above this, the bearish thesis is dead, and it's time to flip neutral.
💰 Take-Profit (TP) Targets
We’re looking for a stepped descent toward the channel's floor:
TP1: ~$87,003 (Initial reaction area)
TP2: ~$86,031 (Mid-range liquidity)
TP3: ~$85,039 (Major channel support)
🛡️ Risk Management Strategy
Survival is the name of the game. Once TP1 is hit, I’ll be shifting my stop-loss to break-even to lock in a "risk-free" trade. If the candles close above our red invalidation line, I’m out—no ego, just discipline.
Note: This is a technical breakdown for educational purposes, not a signal to buy or sell. Always trade your own plan.
What do you think? Are we heading for $85k or is a breakout imminent? Let me know below! 👇
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