$BTC /USDT – Short Trade Setup
BTC is trending lower after failing to hold above 124,474, consistently forming lower highs and lower lows. The latest bounce stalled near 118,420 before sellers stepped in again, confirming strong selling pressure.
Reason for the Trade:
The market has rejected key resistance and remains below it. The trend is down, and consecutive red candles highlight strong bearish momentum. If the support near 117,000 breaks, the decline could extend further.
Trade Plan:
Entry: Around 117,800 – 118,000 on a minor bounce
Stop Loss: 118,500 (above recent resistance)
Target 1: 116,800
Target 2: 115,800
Target 3: 115,200
Risk to Reward:
Target 2 offers roughly 2:1 reward-to-risk.
Target 3 can yield up to 3:1 if price breaks below 116,800 without a strong rebound.
Chance of Profit:
High probability for Target 1 (~70%).
Moderate probability for Target 3 (~55%), as it relies on breaking 116,800 support without reversal.
$BTC
