#BTC 15-Minute Chart Analysis – Short-Term Bearish Signal?]
Bitcoin is showing signs of weakness on the 15-minute timeframe, and here’s what the charts are telling us:
Key Highlights:
Resistance Hit: BTC recently touched the $109,500–$110,000 resistance zone but failed to break out with strong volume.
Bearish Pattern: A double top pattern is forming, signaling possible downside pressure.
Oversold Indicators: RSI, CCI, and Williams %R all show oversold conditions, hinting at a short-term bounce – but no strong reversal yet.
Support to Watch: $106,800–$107,300 is a critical support zone. A breakdown below this level could trigger a quick move toward $105,000 or lower.
Expert Insight: Several analysts on TradingView are calling this a potential bull trap. Weak breakout volume and resistance rejection are clear bearish signs for intraday traders.
My View: I'm currently watching for:
A clean bounce from support for a quick scalp long,
Or a confirmed breakdown for a short setup.
Stay cautious, and remember: the 15-minute frame is great for scalping but not for long-term decisions. Keep risk tight.
