BTC/USD - BEARISH STRUCTURE CONFIRMED 📉 | Target $70K
Bitcoin rejected hard from $82,164 after marking a 3-month high. Now trading around $78,295 (-2.34%) and structure is turning bearish.
Chart Breakdown:
Resistance:
→ $82,164 (Major Rejection)
→ $80,800 (Breakdown Level)
Price broke down below $80.8k and is now respecting the descending trendline as resistance.
Support Levels:
S1: $77,700 (Immediate, bouncing now)
S2: $76,000
S3: $72,000
Final Target: $70,000 - $68,000
Confirmation:
• RSI Bearish Divergence on 4H - Price made higher high, RSI made lower high • RSI (14) = 43.24 - Bearish momentum • Put options premium > Call options till September expiry (Deribit data) • Fed decision on Sep 16 - Market is cautious, volume dropping -14.2%
If $77.7k breaks, $76k and then $72k is coming fast.
Not financial advice. Manage your risk.
What do you think? Dump to $70k or bounce from here?
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#BearishAlert