Hello traders! Here’s my technical outlook based on the current BTCUSDT (4H) chart structure. BTC previously traded inside a range, after formed a rising trend line. The market faced rejection from a pivot high under a descending supply line, BTC broke below the trend line and the 68,400 supply zone.
Currently, price is trading below resistance and approaching the 66,000 demand zone, where a short-term reaction may occur. The structure now shows lower highs forming, indicating weakening bullish momentum.
As long as BTCUSDT remains below the 68,400 resistance and respects the descending supply line, the bearish bias stays valid. A continuation lower could push price toward the 66,000 support (TP1) as the next downside target. Manage your risk!
Currently, price is trading below resistance and approaching the 66,000 demand zone, where a short-term reaction may occur. The structure now shows lower highs forming, indicating weakening bullish momentum.
As long as BTCUSDT remains below the 68,400 resistance and respects the descending supply line, the bearish bias stays valid. A continuation lower could push price toward the 66,000 support (TP1) as the next downside target. Manage your risk!
トレード稼働中
Bitcoin has corrected to the resistance zone from where the price went down. Currently we are already seeing good results at 66,400. In my opinion, sellers will be able to push to 66K from where the next reaction will follow.トレード終了: 利益確定目標に到達
We see that the price impulsively dropped to our target, from where the next reaction followed, as I said earlier.
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