BTC is consolidating below the 77.5–78.3K supply zone while staying under the short-term MA.
Bearish confluence:
• Lower-high structure
• Supply rejection
• Bearish BOS
• RSI below 50 + descending trendline
• Price struggling to reclaim the MA
Short: 77.5–78.0K
SL: 79.1K
TP1: 76.0K
TP2: 74.5K
A clean reclaim of 78.3K weakens the setup. Above 79.1K, short thesis invalid.
Looking for rejection from supply rather than chasing the move.
Bearish confluence:
• Lower-high structure
• Supply rejection
• Bearish BOS
• RSI below 50 + descending trendline
• Price struggling to reclaim the MA
Short: 77.5–78.0K
SL: 79.1K
TP1: 76.0K
TP2: 74.5K
A clean reclaim of 78.3K weakens the setup. Above 79.1K, short thesis invalid.
Looking for rejection from supply rather than chasing the move.
Trade active
TP 1 reached.Trade closed: stop reached
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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.