$BTC Short

Entry - 80500

TP - 78000

Stop Loss - 81000

Additional Analysis

The BTCUSDT chart on the 1-day timeframe shows a bearish sentiment, as indicated by the sharp decline in price. The formation of a 'Head and Shoulders' pattern suggests a potential reversal from previous bullish trends. The RSI is below 30, indicating that the asset is currently oversold, which may lead to a continuation of the downward trend. The MACD has formed a bearish crossover, further supporting the selling pressure. Additionally, the price is currently trading below both the 50-day and 200-day moving averages, affirming the bearish outlook. The presence of multiple resistance levels above the current price suggests limited upside potential. The combination of these technical indicators and chart patterns supports a sell recommendation, with a target price set at 78000 and a stop loss at 81000 to manage risk effectively.