BTC Breakdown: The Trendline SnapTechnical Analysis Breakdown
Trendline Violation: The primary diagonal support, which held firm since the March 9th lows, has been decisively broken. This shift in market structure suggests that the previous bullish momentum has exhausted.
The Bearish Setup: A short position is currently active (indicated by the red/green risk-reward tool), targeting the previous liquidity zone and demand block.
Key Price Levels:
Entry/Current: ~$70,634
Stop Loss: $71,495 (Placed just above the recent local structural high to invalidate the bearish thesis).
Take Profit Target: $68,713 (The significant horizontal support zone and previous "breakout" origin).
Short