$BTC

🔍 Chart Overview

Current Price: 118,355.76

24h High: 119,676.73 🔼

24h Low: 116,467.02 🔽

Timeframe: 15 minutes ⏱

Price Movement (last few candles): Decline from recent high

📈 Price Action Analysis

Price peaked at 119,676.73 💥 but dropped quickly.

Current price is now below recent resistance zone (around 119k) ➡️ indicating rejection 🛑.

Candle structure is showing lower highs and lower lows, suggesting bearish pressure 🐻.

📉 Indicator Analysis

1️⃣ OBV (On-Balance Volume): -2,709.42

📉 This negative value shows volume leaving the market.

💡 Suggests weak buyer interest & potential for downward movement.

2️⃣ Williams %R (14): -98.82

⚠️ Extreme oversold level (under -80 = oversold).

❗️This can either mean a reversal is close OR continued bearish momentum.

🧠 Interpretation of Indicators Together

OBV declining 📉 = sellers dominating 🟥

Williams %R at extreme oversold 🔻 = price is beaten down but may temporarily bounce

But NO strong bullish reversal signal YET ⚠️

🧮 Support and Resistance Levels

Immediate Resistance: 119,100 – 119,600 💢

Immediate Support: 116,467 and below 🧱

If BTC breaks below 117,000, it could trigger further downside 🌊

✅ Conclusion & Suggestion

🔻 SHORT Position is Stronger for Now 📉

Reasons:

Bearish candle formations 🕯️

Volume (OBV) showing sellers in control 🚫

Failed to hold gains near 119K resistance 🚧

Market sentiment slightly negative in this 15m timeframe ❄️

🎯 Suggested Strategy

🔹 Enter Short near: 118,300 – 118,500

🔹 Take Profit (TP):

TP1: 117,700

TP2: 116,800

🔹 Stop Loss (SL): Above 119,700 to protect from sudden breakout.

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