$BTC USDT – REJECTION FROM SUPPLY ZONE! BEARS STEP IN
KEY SUPPLY ZONE AT $120K HOLDS
BEARISH ENGULFING CANDLE FORMED
$BTC USDT attempted a breakout above the $120,000 resistance but faced sharp rejection. The price dropped back below the previous support-turned-resistance zone, now sitting around $118,896. The chart shows a clear short setup with strong downside potential and favorable R:R ratio.
SHORT TRADE SETUP:
Entry: $118,950
Target 1: $117,600
Target 2: $117,440
Stop Loss: $119,425
The failed breakout confirms seller dominance near $120K. Breakdown below the support zone opens the path for further downside.