๐ป $BTC /USDT Short Trade Signal โ Market Outlook
Bitcoin is showing signs of short-term bearish pressure as it fails to break above the key resistance zone between $117,600 and $117,650. A clean lower high has formed just below this level, and an intraday bearish engulfing candle confirms the presence of sellers. This price action suggests a potential continuation to the downside, targeting the support region around $116,965 and $116,912.
The ideal short entry zone lies between $117,350 and $117,500, with a stop loss set at $117,650 to manage risk. Profit targets for this trade are positioned at $116,965 (TP1) and $116,912 (TP2). Traders may consider using 2โ3% margin with 10x leverage to maximize potential returns.
Overall, BTC remains vulnerable below the $117,000 mark, and a breakdown of this level could open the door for a deeper move toward $116,500 and lower. Sellers continue to dominate as long as BTC fails to reclaim the 117.6K level.
