⚠️ $BTC Bitcoin Alert: Downtrend Imminent – First Target at $89,000!
The recent market action signals that Bitcoin ($BTC) may be entering the early stages of a significant correction. Following the release of the U.S. non-farm payroll data on May 2, BTC briefly surged past $97,800, but the rally quickly lost momentum. It has since retreated to trade within the $92,800–$95,700 range, posting a sharp decline of over $4,300.
📉 Market Overview
Failed Breakout: Momentum weakened significantly after touching $97,800.
Bearish Sentiment: Market enthusiasm is fading, and technical indicators suggest growing downside risk.
Key Resistance: $95,700 – critical barrier to break for any bullish continuation.
Support Level: $92,800 – a pivotal level; a breach here could confirm a deeper move lower.
🔻 Price Targets
$92,800 breaks:
Expect the decline to accelerate.
Target Zone: $90,000 – $88,000
This area is where the first leg of the correction is projected to find support.
📊 Short-Term Strategy
Scenario 1 – Resistance Holds:
Sell/short near $95,700
Take profit around $92,800
Scenario 2 – Support Breaks:
If $92,800 is breached, hold or initiate shorts
Profit targets: $90,000 and lower to $88,000–$89,000
⚠️ Tip: Stay adaptive to intraday shifts in momentum and volume. Use tight risk management given market volatility.
