1️⃣ Market Structure (Most Important)
Price broke down from a rising channel (green trend lines in the middle).
After the breakdown, BTC failed to reclaim the channel, which confirms short-term bearish structure.
Current price is below the key mid-range, showing sellers still control.
👉 Bias: Bearish to range-bound unless key resistance breaks
2️⃣ Supply & Demand Zones (Red & Green Boxes)
🔴 Major Supply (Resistance)
90,300 – 90,450
This zone rejected price multiple times.
Confluence with 0.618 Fibonacci (~90,401) → strong sell zone.
👉 If price comes here again: high probability rejection
🔴 Minor Supply
89,850 – 89,950
Price currently reacting here.
Acts as intraday resistance.
🟢 Strong Demand (Support)
89,200 – 89,300
Marked green zone.
Multiple Fibonacci confluences:
1.0 (89,250)
0.88 (89,335)
This is the last bullish defense.
👉 If this breaks → fast dump likely
3️⃣ Fibonacci Insights
You’ve drawn Fib from the swing high to low correctly.
Key reactions:
0.618 (90,401) → strong rejection ✔
0.382 (90,233) → intraday resistance ✔
0.236 (89,793) → weak bounce, sellers returned ✔
This confirms retracements are being sold, not bought.
4️⃣ Price Action Right Now
Lower highs + weak bullish candles
No strong impulsive buying
Consolidation just above demand = distribution behavior
This usually resolves with:
❌ breakdown → continuation down
OR
✔️ liquidity sweep → sharp bounce (short-covering)
5️⃣ Probable Scenarios
🔻 Bearish Scenario (Higher Probability)
Breakdown below 89,600
Targets:
89,300
89,080
Extended: 88,900
📌 Confirmation: strong red candle + volume expansion
🔺 Bullish Relief Bounce (Only if support holds)
Hold 89,250–89,300
Bounce toward:
89,950
90,300–90,400 (sell zone)
📌 This would likely be a pullback, not trend reversal
6️⃣ Trading Plan (If You’re Trading This)
Scalpers
Shorts near 89,950–90,200
Tight SL above 90,450
Intraday Long
Only near 89,250
SL below 89,080
Quick targets only (no holding)
Avoid longs in the middle – bad R:R.
🔑 Final Summary
Trend: Short-term bearish
Structure: Breakdown confirmed
Best trades: Sell rallies, not dips
Key level to watch: 89,250
Price broke down from a rising channel (green trend lines in the middle).
After the breakdown, BTC failed to reclaim the channel, which confirms short-term bearish structure.
Current price is below the key mid-range, showing sellers still control.
👉 Bias: Bearish to range-bound unless key resistance breaks
2️⃣ Supply & Demand Zones (Red & Green Boxes)
🔴 Major Supply (Resistance)
90,300 – 90,450
This zone rejected price multiple times.
Confluence with 0.618 Fibonacci (~90,401) → strong sell zone.
👉 If price comes here again: high probability rejection
🔴 Minor Supply
89,850 – 89,950
Price currently reacting here.
Acts as intraday resistance.
🟢 Strong Demand (Support)
89,200 – 89,300
Marked green zone.
Multiple Fibonacci confluences:
1.0 (89,250)
0.88 (89,335)
This is the last bullish defense.
👉 If this breaks → fast dump likely
3️⃣ Fibonacci Insights
You’ve drawn Fib from the swing high to low correctly.
Key reactions:
0.618 (90,401) → strong rejection ✔
0.382 (90,233) → intraday resistance ✔
0.236 (89,793) → weak bounce, sellers returned ✔
This confirms retracements are being sold, not bought.
4️⃣ Price Action Right Now
Lower highs + weak bullish candles
No strong impulsive buying
Consolidation just above demand = distribution behavior
This usually resolves with:
❌ breakdown → continuation down
OR
✔️ liquidity sweep → sharp bounce (short-covering)
5️⃣ Probable Scenarios
🔻 Bearish Scenario (Higher Probability)
Breakdown below 89,600
Targets:
89,300
89,080
Extended: 88,900
📌 Confirmation: strong red candle + volume expansion
🔺 Bullish Relief Bounce (Only if support holds)
Hold 89,250–89,300
Bounce toward:
89,950
90,300–90,400 (sell zone)
📌 This would likely be a pullback, not trend reversal
6️⃣ Trading Plan (If You’re Trading This)
Scalpers
Shorts near 89,950–90,200
Tight SL above 90,450
Intraday Long
Only near 89,250
SL below 89,080
Quick targets only (no holding)
Avoid longs in the middle – bad R:R.
🔑 Final Summary
Trend: Short-term bearish
Structure: Breakdown confirmed
Best trades: Sell rallies, not dips
Key level to watch: 89,250
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.