🚨BTCUSD: BITCOIN COULD BE SETTING UP FOR A BEARISH STRUCTURE SHIFT!🚨
Bitcoin is approaching a critical decision zone. 👀
My weekly bias is bearish, while the daily and 4H structures are currently bullish.
But here's what has caught my attention. 📉
🔎 WHAT I'M WATCHING:
🔴 1. Daily resistance
Price returned to the $82,314 resistance area, where I'm watching for evidence that sellers are stepping in.
🔴 2. FVG + neckline retest
After the downward move, price retraced into the breakaway FVG and the head-and-shoulders neckline area.
I'm watching to see whether this area holds as resistance.
🔴 3. Four-hour rejection
The rejection candles suggest selling pressure may be emerging, but I still need confirmation.
🎯 MY BEARISH CONFIRMATION LEVEL:
I'm watching $80,865.82.
A convincing break below this level, supported by a bearish 4H close and follow-through, would strengthen my bearish scenario.
📉 Potential downside area: $76,362.
⚠️ Until the structure confirms the shift, this remains a potential setup rather than a confirmed sell signal.
I won't rush the entry. I want price to prove the idea right before considering a position.
What do you think? Will BTC reject this zone and shift bearish, or will the bulls regain control? 👇
$BTC #Bitcoin #BTCAnalysi #CryptoTrends2024
Bitcoin is approaching a critical decision zone. 👀
My weekly bias is bearish, while the daily and 4H structures are currently bullish.
But here's what has caught my attention. 📉
🔎 WHAT I'M WATCHING:
🔴 1. Daily resistance
Price returned to the $82,314 resistance area, where I'm watching for evidence that sellers are stepping in.
🔴 2. FVG + neckline retest
After the downward move, price retraced into the breakaway FVG and the head-and-shoulders neckline area.
I'm watching to see whether this area holds as resistance.
🔴 3. Four-hour rejection
The rejection candles suggest selling pressure may be emerging, but I still need confirmation.
🎯 MY BEARISH CONFIRMATION LEVEL:
I'm watching $80,865.82.
A convincing break below this level, supported by a bearish 4H close and follow-through, would strengthen my bearish scenario.
📉 Potential downside area: $76,362.
⚠️ Until the structure confirms the shift, this remains a potential setup rather than a confirmed sell signal.
I won't rush the entry. I want price to prove the idea right before considering a position.
What do you think? Will BTC reject this zone and shift bearish, or will the bulls regain control? 👇
$BTC #Bitcoin #BTCAnalysi #CryptoTrends2024
