Shahroz ALI's Profile | Binance Square

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Bearish

Pair: BTC/USDT Perpetual Futures $BTC $ETH $SOL {spot}(SOLUSDT) {spot}(ETHUSDT) {spot}(BTCUSDT) , 4-hour timeframe Current price: $61,957.8 (down 1.43%, -$896.3) Date: July 8, 2026 Structure drawn on the chart Earlier rising channel (Nov–Feb): Price moved up in a rising parallel channel, then broke down out of it around early February, dropping sharply from ~$90,000 toward the $70,000 area. Second rising channel (Feb–May): After that drop, price based out and formed another rising channel from February through May, pushing up toward ~$84,000 before topping out. Breakdown from the top (May–June): From the May high (~$84,000), a descending line marks a drop back down toward the $68,000–70,000 support zone, and then further down to about $61,000. Current pattern (June–July): Around the recent low, the chart-maker has drawn what looks like a small descending triangle / bearish continuation pattern (the blue zig-zag lines) — price bouncing between roughly $58,000 and $67,000 but making lower highs, pressing against a support line near $54,520. Projected move (blue line): The blue line projects a breakdown from this triangle, targeting the next horizontal support levels marked in yellow: first $54,520.8, and then a much deeper target near $39,328.4. Key horizontal levels marked Resistance/prior support: $70,625 Support: $54,520.8 Major downside target: $39,328.4 In short: this is a bearish technical setup — the analyst (Shahroz7718) is suggesting that after topping out near $84K in May, BTC is now in a corrective/distribution pattern and could break down toward $54.5K first, with $39.3K as a longer-term downside target if that support fails. ⚠️ Note: this is just a reading of the technical drawing on the chart, not financial advice — trendline/pattern-based targets are subjective and this is one trader's projection, not a guaranteed outcome. Crypto is highly volatile, so treat this as one scenario among many, not a certainty. @CZ @ekramul786 @Binance_Square_Official

Pair: BTC/USDT Perpetual Futures $BTC $ETH $SOL
, 4-hour timeframe Current price: $61,957.8 (down 1.43%, -$896.3) Date: July 8, 2026
Structure drawn on the chart
Earlier rising channel (Nov–Feb): Price moved up in a rising parallel channel, then broke down out of it around early February, dropping sharply from ~$90,000 toward the $70,000 area. Second rising channel (Feb–May): After that drop, price based out and formed another rising channel from February through May, pushing up toward ~$84,000 before topping out. Breakdown from the top (May–June): From the May high (~$84,000), a descending line marks a drop back down toward the $68,000–70,000 support zone, and then further down to about $61,000. Current pattern (June–July): Around the recent low, the chart-maker has drawn what looks like a small descending triangle / bearish continuation pattern (the blue zig-zag lines) — price bouncing between roughly $58,000 and $67,000 but making lower highs, pressing against a support line near $54,520. Projected move (blue line): The blue line projects a breakdown from this triangle, targeting the next horizontal support levels marked in yellow: first $54,520.8, and then a much deeper target near $39,328.4.
Key horizontal levels marked
Resistance/prior support: $70,625 Support: $54,520.8 Major downside target: $39,328.4
In short: this is a bearish technical setup — the analyst (Shahroz7718) is suggesting that after topping out near $84K in May, BTC is now in a corrective/distribution pattern and could break down toward $54.5K first, with $39.3K as a longer-term downside target if that support fails.
⚠️ Note: this is just a reading of the technical drawing on the chart, not financial advice — trendline/pattern-based targets are subjective and this is one trader's projection, not a guaranteed outcome. Crypto is highly volatile, so treat this as one scenario among many, not a certainty. @CZ @Crypto_Weilong @Binance Square Official

Shahroz ALI

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