#BTCBelow80K
📛 $BTC drops under key support – Downtrend intensifies!
Price Action:
BTC/USDT is currently around $79,000, after breaking below the critical $80K support. The 4H chart shows a descending triangle breakdown (rejection at ~$83.8K highs) that led to a sharp fall under key support. The downtrend remains intact with lower highs and lower lows. Major support now sits at $76,000, while the broken $80,000 level acts as immediate resistance.
Indicators:
MACD: Bearish momentum increasing – MACD is falling further below the signal line.
MA (5/10): Bearish crossover confirmed, with price holding below both 5 & 10 period MAs.
Parabolic SAR: Dots are above price, aligning with a sustained downtrend bias.
Volume: Uptick in sell-volume on declines, signaling strong selling pressure (buying volume remains weak on bounces).
Trade Setup (Short):
Entry: ~$79,000 (on a minor bounce or breakdown retest below $80K).
Take Profit: TP1 $76,000; TP2 $72,000 – gradated exits near next support zones.
Stop Loss: $82,000 (above the $80K pivot to manage risk).
Market Outlook: Bias remains bearish below $80K. The descending triangle break, followed by a weak bear-flag bounce, confirms strong selling pressure. With volume rising on the breakdown, momentum favors the downside. Sentiment is risk-off as global trade tensions and equity market fears fuel crypto outflows – nearly $600M in positions were liquidated over 24h amid the weekend drop. If $76K support fails, the next bear target is around $72K. Conversely, bulls need to reclaim $80K to ease the bearish pressure and negate the short setup.
