$BTC /USDT – Short Trade Idea
BTC remains in a defined downtrend after failing to hold above 124,474. The pattern of lower highs and lower lows continues, with the latest rebound stalling near 118,420 before sellers stepped in again, confirming strong bearish pressure.
Trade Rationale:
Price is rejecting a key resistance level and holding below it. The trend is bearish, and consecutive red candles reflect strong seller momentum. If support around 117,000 breaks, the decline could deepen.
Trade Setup:
Entry: 117,800 – 118,000 on minor pullbacks
Stop Loss: 118,500 (above recent resistance)
Targets:
TP1: 116,800
TP2: 115,800
TP3: 115,200
Risk/Reward:
TP2 offers roughly 2:1 reward-to-risk.
TP3 offers around 3:1 if the drop extends.
Probability:
TP1: ~70% likelihood
TP3: ~55% likelihood, dependent on breaking 116,800 without a strong rebound.
