$**[4H Analysis] Bitcoin (BTC/USDT) Bearish Setup – Is $69k Next?**
Hey everyone, sharing my current technical view on BTC 4H timeframe.
Looking at the recent price action, Bitcoin has faced a strong rejection from the upper resistance zone ($78k - $80k) and has broken below the short-term trendline.
Here is how I am playing this setup:
* **Current Price:** ~$73,412
* **Stop Loss (SL):** $74,800
* **Take Profit 1 (TP1):** $71,800
* **Take Profit 2 (TP2):** $69,200
The retest of the breakdown level seems complete, and momentum currently favors the bears unless we reclaim the $74.8k level.
What are your thoughts? Are you shorting this dip or waiting for a reversal? Let's discuss below! 👇
$BTC
Hey everyone, sharing my current technical view on BTC 4H timeframe.
Looking at the recent price action, Bitcoin has faced a strong rejection from the upper resistance zone ($78k - $80k) and has broken below the short-term trendline.
Here is how I am playing this setup:
* **Current Price:** ~$73,412
* **Stop Loss (SL):** $74,800
* **Take Profit 1 (TP1):** $71,800
* **Take Profit 2 (TP2):** $69,200
The retest of the breakdown level seems complete, and momentum currently favors the bears unless we reclaim the $74.8k level.
What are your thoughts? Are you shorting this dip or waiting for a reversal? Let's discuss below! 👇
$BTC
