Bitcoin nearly filled the CME gap and bounced back from that point. We are observing a V-shaped recovery from the recent low. The price is currently trading above the $85,000 level, which is a positive sign. The next resistance to overcome is in the $87,000 range. On lower time frames, the local support is around the $83,200-$84,000 area.$BTC
💡 Market Insight: $AIXBT is in a strong downtrend, with multiple rejections at the $0.1850 resistance zone. A clear breakdown below this level has triggered further selling pressure, leading to an accelerated decline.
📉 Key Levels to Watch:
Major Resistance: $0.1850 - $0.1900 (Strong rejection area)
Immediate Resistance: $0.1800
Immediate Support: $0.1700
Next Major Support: $0.1650 - $0.1600
🔻 Short Setup: Entry Zone: $0.1760 - $0.1800 (On a minor pullback) Stop Loss: $0.1855
🎯 Target Levels:
TP1: $0.1700
TP2: $0.1650
TP3: $0.1600
🔥 Trade Strategy: The price has confirmed a strong bearish structure, with multiple attempts to reclaim resistance failing at $0.1850. The recent breakdown confirms further downside potential, making pullbacks into $0.1760 - $0.1800 a great short entry opportunity.
⚠️ Risk Management: Keep your stop-loss above $0.1855 and maintain a proper risk-reward ratio for effective trade execution. The trend remains bearish, so trade smart, and let the momentum do the work! 🚀
🚨 Pro Tip: If bulls fail to reclaim $0.78, JUP could break further down! Watch for volume and momentum confirmation before entering a trade. Caution advised!