Chart Overview
Pair: Bitcoin / U.S. Dollar (BTC/USD)
Timeframe: 30 minutes
Current Price: ≈ 110,706 USD
Resistance Zone: 115,993 – 116,800 USD
Target Point: 109,374 USD
Stop Loss: 116,800 USD
Bias: Bearish
📊 Technical Outlook
Resistance Level:
The highlighted blue zone marks a strong resistance area where BTC has previously rejected multiple times, showing that sellers are active around 116K.
Price Action:
After testing the resistance zone, the price dropped sharply — confirming bearish momentum.
This suggests that the market may continue its downward move as long as it stays below 116,000 USD.
Entry and Target:
Entry Point: around 115,993 USD after a minor pullback or retest.
Target: 109,374 USD, aligning with prior support and measured move projections.
Stop Loss: 116,800 USD to protect against breakout above resistance.
⚖️ Risk/Reward Ratio
Approx. 1 : 3, which is favorable — meaning for every $1 of risk, the potential reward is about $3.
🧠 Summary
Parameter Level (USD) Interpretation
Entry 115,993 Ideal short entry after retest
Stop Loss 116,800 Above resistance zone
Target 109,374 Previous support / projected target
Bias Bearish Sell the rallies below 116K
⚠️ Notes
Watch for bearish confirmation candles (e.g., engulfing or rejection wicks) near resistance before entering.
A break and close above 116,800 will invalidate the short setup.
Momentum favors sellers while below 116K.
