#Bitcoin ($BTC) is currently facing strong bearish pressure, trading around the $61,000–$62,000 range. If you are looking for a short entry or managing your spot bags, here is the quick breakdown:
📉 How Deep Can the Bearish Short Go?
First Major Support: $60,000 (Psychological & Liquidity zone).
Maximum Bearish Extension: If $60k breaks, expect a quick wick down to $57,500 – $58,200 to sweep retail stop losses before any major reversal.
🛡️ Where to Set Your Stop Loss (SL)?
For Short Positions: Strict SL at $64,800 (Above the recent 4H lower high). If BTC reclaims $65k, the bearish structure invalidates.
For Long/Spot Buyers: Place your invalidation SL below $56,800.
⚠️ Market Sentiment: RSI is heavily oversold on daily timeframes. Watch the $60k level closely before taking heavy leverage!
💬 What do you think? Will BTC hold $60k or crash to $55k? Drop your predictions below! 👇
#bitcoin #Binance #tradingtips
