The Setup (SHORT $BTC):
• Entry Zone: $64,800 - $65,100
• Invalidation / Stop Loss: $65,550 (Structural break above recent local highs)
• Target 🎯 1: $64,200
• Target 🎯 2: $63,500
• Target 🎯 3: $62,800
The Market Narrative:
Bitcoin is facing heavy rejection at the critical $65,000–$65,600 resistance zone as short-term momentum fades. The delayed vote on the crypto Clarity Act in the US Senate until September has temporarily dampened immediate bullish catalysts, leading to cautious derivatives positioning and contracted spot demand.
The Technical Breakdown:
Looking at the 1-hour chart, $BTC printed a local top at $65,390.99 before losing its upward momentum and forming a series of lower highs. The price action is currently rolling over, and we are seeing a clear lack of buying pressure near the top of this range. This indicates distribution is taking place as bulls fail to break through the overhead supply.
We are entering a short position because the structural resistance is holding firmly, and the failure to sustain levels above $65,000 signals near-term exhaustion. A breakdown below the immediate local support will likely trigger long liquidations, accelerating a pullback toward our lower targets in the $63k-$64k demand zones.
Are you shorting this rejection or waiting for a deeper dip to buy back in? 👇
#cryptotrading #TechnicalAnalysis #bitcoin $BTC
Disclaimer: This is for educational purposes only and is not investment advice. Always do your own research and manage your risk.