$BTC USDT – BEARS STRIKE BACK AFTER FAKEOUT SPIKE
Bitcoin attempted an upward breakout toward $120,800 but faced immediate rejection, triggering a sharp drop back below $118,800. This signals strong sell pressure from bears after a liquidity grab at higher levels. Unless price reclaims $119,400 quickly, further downside toward the $118,200–$118,000 support zone is likely.
Trade Setup:
Entry: $118,700 – $118,900 (Short)
Targets:
TP1: $118,200
TP2: $118,000
TP3: $117,500
Stop Loss: $119,900
Market Outlook:
Momentum has shifted bearish in the short term, with sellers dominating after trapping late buyers. A daily close below $118,200 would open the door for deeper pullback levels.
