$BTC
THE BTCUSD 5-minute CHART 📉 📈
Key Observations**
1. Price Action
Trading at 117,850after rejection from 118,500 resistance
Lower highs pattern (120,500 → 119,500 → 118,500)
2. Indicators
RSI 57.26* (neutral but sloping down)
MACD(?) at *52.09* (likely bearish crossover)
3. Critical Levels
Resistance: 118,500 (swing high) → 119,000
Support: 117,500 (psychological) → 117,000 (swing low)
**Trading Strategy**
**Short Setup (High Probability)**
**Entry**:
- Option 1: Immediate short at current price (117,850-117,900) with confirmation from:
Bearish candle close below 117,900
RSI dropping below 55
Option 2: Short on retest of 118,300-118,500 (better risk-reward)
**Stop Loss**:
- 119,100 (above recent swing high)
*Targets*
TP1: 117,500 (intraday support)
TP2: 117,000 (swing low)
TP3: 116,500 (1.5% move)
Risk-Reward*: 1:2 (SL 150 pts vs TP 350+ pts)