Short-Term Bias Turns Bearish as Key Support in Sight
🕒 Timeframe: 1-Hour
💹 Pair: BTC/USD
⚠️ Bias: Bearish
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🔍 Key Technical Insights:
1. Bearish Rejection Zone (~$83,174.62)
Price faced rejection from the purple resistance box, showing clear selling pressure.
Both the 30 EMA (Red) and 200 EMA (Blue) are hovering above price — a classic signal of continued bearish momentum.
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2. EMA Dynamics
30 EMA: Acting as dynamic resistance near $83,174.62
200 EMA: Positioned around $83,715.92 — a firm ceiling for price
Price currently trades below both EMAs, reinforcing downside pressure.
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3. Bearish Flag Pattern Confirmed
A bearish flag/wedge has broken to the downside.
Measured move target: ~1.44% drop from breakdown point
Next stop: $81,660.29, a strong historical support zone.
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4. Price Action Overview
Breakdown from the rising flag channel is complete
A minor pullback to resistance has already occurred
Momentum appears ready for a continuation downward
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🎯 Trade Plan Summary
Entry Zone: Near $83,174.62 (rejected already)
Target: $81,660.29
Stop Loss Idea: Above 200 EMA (~$83,715.92)
This setup offers a clean risk-to-reward profile for intraday traders eyeing short opportunities within the current consolidation zone.
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📌 Final Note:
Stay sharp — always wait for confirmation before entries and keep stop-losses tight. Bitcoin remains volatile, and disciplined execution matters more than ever in patterns like this.
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