$BTC /USDT โ Short Setup in Play ๐
Bitcoin remains in a clear downtrend after failing to hold above 124,474, consistently forming lower highs and lower lows. The recent rebound stalled near 118,420, with sellers stepping back in โ a sign that bearish pressure remains strong.
Why This Trade?
Price is rejecting key resistance and holding below it, with strong selling momentum visible in the red candles. If the 117,000 support breaks, further downside is likely.
Trade Plan:
Entry: 117,800 โ 118,000 (on minor bounce)
Stop Loss: 118,500 (above last resistance)
Targets:
โ1๏ธโฃ 116,800
โ2๏ธโฃ 115,800
โ3๏ธโฃ 115,200
Risk/Reward:
Target 2 offers ~2:1 reward-to-risk.
Target 3 offers ~3:1 if breakdown continues.
Probability:
Target 1: ~70% hit rate
Target 3: ~55% (depends on clean break below 116,800)
