$BTC /USDT, based on the given data and recent price action:
š» $BTC /USDT BEARISH OUTLOOK ā PRESSURE BELOW $114K š»
Current Price: $112,695.20
24h High: $114,063.49
24h Low: $112,003.00
Change: -0.71%
Key Technical Levels
Major Resistance: $114,000 ā Psychological & recent rejection level
Immediate Resistance: $113,500 ā Intraday supply zone
Support 1: $112,000 ā Strong price floor, 24h low
Support 2: $111,500 ā Previous demand area
Support 3: $110,800 ā Last swing low
Indicator Summary
MA/EMA: Price is hovering below short-term EMAs, showing weakness.
Bollinger Bands: Contracting ā a volatile move could follow.
MACD: Bearish momentum with histogram fading and a downward crossover.
SAR: Dots appear above candles ā signaling continued bearish pressure.
Trade Setup ā SHORT POSITION
Entry Zone: $113,200 ā $113,500 (retest of breakdown area)
Targets (TP):
TP1: $112,000
TP2: $111,500
TP3: $110,800
Stop Loss (SL): $114,300 (above daily high and resistance zone)
Risk Management
Risk only 1ā2% per trade to protect capital
Use trailing SL after TP1 to secure partial profits
Avoid overleveraging due to potential weekend volatility
š Conclusion:
Bitcoin is currently under pressure after failing to break above $114K. The bearish bias remains intact unless it reclaims $114,300 with volume. Short setup is favorable toward the $111K region.
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