BTC is showing short-term bearish structure after failing to reclaim the 79.0–79.3K supply zone. Price is now trading below the short-term moving averages, while 1H RSI is weakening.
The preferred setup is a retest of 78.8–79.3K followed by rejection.
SL: 79.55K
TP1: 77.5K
TP2: 76.65K
TP3: 75K
A sustained reclaim above 79.3–79.5K invalidates the bearish setup and could trigger a move toward 80–81K.
Avoid chasing the short at current levels; wait for the retest or a confirmed breakdown/retest below 78.3K.
The preferred setup is a retest of 78.8–79.3K followed by rejection.
SL: 79.55K
TP1: 77.5K
TP2: 76.65K
TP3: 75K
A sustained reclaim above 79.3–79.5K invalidates the bearish setup and could trigger a move toward 80–81K.
Avoid chasing the short at current levels; wait for the retest or a confirmed breakdown/retest below 78.3K.
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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.