🔴【Bearish · Short】Honestly, the chart I’ve been watching today for $BTC just feels more and more off: three consecutive long upper wicks on the daily. Every time price tries to push higher above 112K, massive sell orders slam it back. This isn’t strength—it’s distribution.
📊 Key order book observations
On the 15m chart, a standard “false breakout + quick retrace” pattern played out: after a fake break at 112,500, a single bearish candle immediately engulfed the prior bullish candle. On the 1h chart, the RSI fell from 68 at the top divergence to 52. The MACD formed a dead cross in a high zone and the histogram has continued to expand. The 1h EMA20 is flattening then bending downward, and price has been rejected twice after pullbacks. ATR is currently about 1,850, so there’s enough intraday room to run profits. In terms of volume and price: rallies on declining volume and selloffs on increasing volume—this is a classic “smart money” distribution rhythm. Hard resistance is at 112,800. The first support below is 108,200 (prior low + a high-volume cluster). If that breaks, it opens a vacuum zone down to 105,400.
🎯 My live trading plan
• Core target: $BTC (short)
• Entry reference: 111,800 – 112,600, enter in batches—do not chase the short
• Stop-loss protection: 114,200. If the daily close is decisively above, exit immediately—never hold the position against you
• Take-profit targets: TP1 108,200 (reduce 50%), TP2 105,400 (remaining position)
• Risk-reward ratio: TP1 ≈ 2.0R, TP2 ≈ 3.4R
Short $BTC 👇
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⚠️ Risk control reminders & interaction
Keep position size under 5%, leverage within 5x. Stop-loss is discipline, not advice. Quick question: do you think this 108K support will be broken through directly by a single bearish candle, or will it first wick into a sweep of shorts before moving on? Drop your position in the comments.