Signal Type: Short

Asset: BTC Perpetual

Entry Price Range: $115,500 - $116,000

Stop Loss: $117,000

Take Profit Targets:

- Target 1: $113,500 (≈2.0% profit)

- Target 2: $112,000 (≈3.4% profit)

Technical Analysis Rationale:

Bitcoin has recently failed to reclaim its ~$116K support, and a sustained break below this level would likely accelerate selling. Traders warn that falling under $115K–$116K could push BTC toward the ~$112K area [oai_citation:10‡cointelegraph.com](https://cointelegraph.com/news/bitcoin-fills-july-cme-gap-to-the-dollar-104k-btc-price-target#:~:text=%E2%80%9CNow%20that%20the%20gap%20is,if%20%24116%2C000%20was%20not%20reclaimed) [oai_citation:11‡coindesk.com](https://www.coindesk.com/markets/2025/07/29/bitcoin-s-bollinger-bands-tightest-since-february-xrp-sol-establish-lower-highs#:~:text=A%20break%20below%20%24116%2C000%20would,tighter%20Bollinger%20bands%20resolve%20bullishly). The RSI (previously ~63) has already turned down from overbought levels [oai_citation:12‡decrypt.co](https://decrypt.co/333192/crypto-dogecoin-tanks-bitcoin-price-tests-support-analysis#:~:text=The%20Relative%20Strength%20Index%2C%20or,days%20without%20reaching%20overbought%20territory), suggesting waning bullish momentum. Fresh U.S. trade-tariff news has also weighed on markets – BTC dipped to roughly $114.3K amid tariff fears [oai_citation:13‡cointelegraph.com](https://cointelegraph.com/news/bitcoin-fills-july-cme-gap-to-the-dollar-104k-btc-price-target#:~:text=Bitcoin%20%28BTC%29%20hit%20new%20three,trade%20tariffs%20soured%20market%20sentiment). We look to enter short on a confirmed breakdown, set a tight stop above ~$117K (above the broken $116K zone), and target about 2–3% below the entry (near $113.5K and $112K) to capture the expected pullback.