CHART ANALYSIS: $BTC USDT 🔴

The chart suggests a bearish structure forming on the lower high setup after rejection from a strong resistance zone (around 108,200–108,600). Price attempted to break above but got strongly rejected, leading to a sharp drop.

Key Technical Observations:

• Resistance Zone: 108,246 – 108,598 (strong supply zone)

• Failed Breakout: Multiple rejections from the resistance zone indicate exhaustion of bullish momentum.

• Support-Turned-Resistance: 107,200 zone now acting as resistance.

• Bearish Retest Confirmation: Price is retesting the broken support at 107,200 as resistance before further continuation downward.

• Target Zone: 104,911 – aligning with previous demand/support zone.

Market Bias: Bearish continuation expected if price fails to reclaim 107,200.

This setup favors short positions with a high reward-to-risk potential on breakdown confirmation.