🚨 $BTC : BEARS STILL HAVE THE EDGE?
Bitcoin is struggling to reclaim key resistance, and I'm watching the downside carefully.
📊 **Market Stance: Bearish below $83,150**
Key levels to watch:
• Resistance: $83,150 - $84,000
• Support: $80,600
• Major support: $79,800
📉 **The Setup**
BTC is trading below key short-term moving averages, while momentum remains weak. A rejection near resistance could create another short opportunity.
🎯 **Potential Trade Setup**
Entry: $83,000
Stop-loss: $84,300
TP1: $80,600
TP2: $77,200
Risk/reward: approximately 1:1.85 to TP1, or 1:4.46 to TP2.
⚠️ Bearish bias remains valid while resistance holds. A confirmed breakout above $84K could invalidate this setup.
Not financial advice. Wait for confirmation, manage risk, and DYOR.
#bitcoin #BTC #CryptoTrading
Bitcoin is struggling to reclaim key resistance, and I'm watching the downside carefully.
📊 **Market Stance: Bearish below $83,150**
Key levels to watch:
• Resistance: $83,150 - $84,000
• Support: $80,600
• Major support: $79,800
📉 **The Setup**
BTC is trading below key short-term moving averages, while momentum remains weak. A rejection near resistance could create another short opportunity.
🎯 **Potential Trade Setup**
Entry: $83,000
Stop-loss: $84,300
TP1: $80,600
TP2: $77,200
Risk/reward: approximately 1:1.85 to TP1, or 1:4.46 to TP2.
⚠️ Bearish bias remains valid while resistance holds. A confirmed breakout above $84K could invalidate this setup.
Not financial advice. Wait for confirmation, manage risk, and DYOR.
#bitcoin #BTC #CryptoTrading