$BTC /USDT – BEARS STILL DOMINATE BUT A BOUNCE FROM SUPPORT COULD SPARK A QUICK LONG SETUP
Immediate Explanation:
Bitcoin (
$BTC /USDT) continues to face selling pressure after repeated rejections from $104,800–$106,000. However, price is approaching key support around $103,200–$102,400, where buyers have previously stepped in. A breakdown below this zone will open the door to deeper lows, but a sharp bounce could create a short-term long opportunity if bulls defend support aggressively.
🔻Short Trade Setup:
Entry: $103,600 – $104,000
Take Profit (TP): $102,400 / $101,000
Stop Loss (SL): $106,000
🔺Long Trade Setup (Countertrend Bounce):
Entry: $102,400 – $102,800
Take Profit (TP): $104,000 / $105,200
Stop Loss (SL): $101,800
Short-Term Market Outlook:
The prevailing trend remains bearish below $106,000, with lower highs forming consistently. However, oversold conditions near major support zones may trigger a relief bounce. Traders can position accordingly for both continuation and rebound scenarios with tight risk management.
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$BTC