$BTC Bitcoin is trading at $76,050, down 5.44% in 24 hours. The breakdown below $80,000 and failure of the 100-day moving average highlight continued selling pressure. A bearish engulfing candle on the 4H chart reinforces the downside structure. Liquidations have contracted open interest, while neutral funding suggests long positions are being flushed out.
๐ Bias: Bearish | ๐ฏ Entry: Short near $77,200 on weak retest | ๐ก Support: $75,600 / $75,000 | ๐ง Resistance: $78,000 / $80,000 | ๐ฏ Targets: $75,600 / $75,000 / $74,200 | โ Invalidation: $78,600
Strategy: Watch for rejection near $77,200 before considering a short. A short-covering squeeze remains a key risk.
#Bitcoin #BTC #CryptoTrading #TechnicalAnalysis #Binance
๐ Bias: Bearish | ๐ฏ Entry: Short near $77,200 on weak retest | ๐ก Support: $75,600 / $75,000 | ๐ง Resistance: $78,000 / $80,000 | ๐ฏ Targets: $75,600 / $75,000 / $74,200 | โ Invalidation: $78,600
Strategy: Watch for rejection near $77,200 before considering a short. A short-covering squeeze remains a key risk.
#Bitcoin #BTC #CryptoTrading #TechnicalAnalysis #Binance
