Hello traders! Here’s my technical outlook based on the current BTCUSDT (2H) chart structure. BTCUSDT previously broke higher from a range and tested the Supply Zone near 79,600, where it faced rejection from the Supply Line. Price then pulled back and is now trading below the Supply Zone while holding above the 77,000 Demand Zone.
Currently, the rejection from the Supply Zone and the descending Supply Line suggest that a short-term bearish continuation may develop toward the 77,000 Demand Zone.
As long as BTCUSDT remains below the 79,600 Supply Zone and fails to break above recent highs, the bearish scenario remains valid. A continuation lower could push price toward the 77,000 Demand Zone (TP1). However, a break above 79,600 would weaken the bearish outlook. Manage your risk!
