$BTC /USDT – Short Trade Setup
BTC is moving in a clear downtrend after failing to hold above 124,474. Price keeps making lower highs and lower lows. The recent bounce stopped near 118,420 and sellers pushed it down again. This shows that selling pressure is still strong.
Reason for the Trade:
The market is rejecting key resistance and staying below it. The trend is down, and the red candles show strong momentum from sellers. If the current support near 117,000 breaks, the drop can extend further.
Trade Plan:
Entry: Around 117,800 to 118,000 on a small bounce
Stop Loss: 118,500 (above last resistance)
Target 1: 116,800
Target 2: 115,800
Target 3: 115,200
Risk to Reward:
Target 2 gives around 2 times the reward compared to the risk. Target 3 can give 3 times the reward if the drop continues.
Chance of Profit:
Good chance for Target 1 (around 70%). Slightly lower chance for Target 3 (around 55%) as it depends on breaking the 116,800 support without bouncing back.