$BTC USDT BEARISH REVERSAL AFTER FAILING TO HOLD ABOVE RESISTANCE
Bitcoin failed to sustain above the $109,200 resistance, showing strong selling pressure and forming a bearish engulfing candle on the 1H chart. This suggests potential downside continuation in the coming hours.
š Key Levels:
Resistance: $109,200 ā $109,600
Support: $107,800 ā $107,400
Current Price: $108,326
š Trade Setup (Short Entry):
Entry Zone: $108,400 ā $108,600
Take Profit 1: $107,800
Take Profit 2: $107,400
Stop Loss: $109,300
š Market Outlook:
BTC shows a rejection from near-term resistance with bearish momentum resuming. If it breaks below $107,800, further downside towards $107,400 is expected as bears regain control.
ā ļø Risk Management:
Always use position sizing to limit risk to 1-2% per trade and adjust stop loss if the market structure changes to protect capital efficiently.
#BTC #Bitcoin #CryptoTrading #bearish #TechnicalAnalysis
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