$BTC /USDT BEARISH PULLBACK – BITCOIN TESTING KEY SUPPORT LEVELS

BTC/USDT is trading at $109,338 (-3.65%) after a sharp drop from the recent high of $113,940. The 1H chart shows a strong bearish structure with lower highs and lower lows, while price recently bounced off the intraday low at $108,631. RSI at 32 indicates near oversold conditions, suggesting sellers remain in control but a short-term relief bounce is possible if support holds.

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Trade Setup:

Entry (Short): $109,500 – $110,000 if price fails to reclaim above $110,700

Take Profit (TP1): $108,000

Take Profit (TP2): $106,500

Stop Loss (SL): $111,200 above minor resistance

(Aggressive traders may watch for a scalp long above $110,700 if volume picks up, but trend bias stays bearish below this level.)

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Market Outlook:

Bitcoin is in a short-term downtrend with selling pressure increasing at each bounce. If the $108,600–108,000 support fails, deeper downside could open towards $106,000. Bulls need to reclaim $111,000–112,000 to reverse intraday momentum.

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