BTCUSD Bearish Rejection from Trendline Breakdown Target

Apr 7

The chart shows Bitcoin on the 2H timeframe moving within an overall **downtrend**, clearly respected by a strong descending **trendline resistance**. Price recently pushed upward but failed to break this trendline, forming a **clear rejection near 69,500–70,000**.

After the rejection:

* Price dropped sharply back below the trendline, confirming **seller dominance**
* The market previously formed a **range zone (66,500 – 67,600)**, which acted as consolidation
* A **fake breakout above the range** grabbed liquidity before reversing downward
* Price is now struggling below resistance, indicating potential continuation to the downside

Additionally, the **Ichimoku cloud resistance** overhead supports the bearish bias, showing weak bullish momentum.

**🎯 Target:**
➡️ **67,663** (Range support / target point)

This target is significant because:

* It aligns with the **top of the previous range turned support**
* Acts as a **liquidity zone** where price is likely to react
* Matches the projected move after **trendline rejection + failed breakout**

Apr 7

Trade active

Active

Apr 7

Trade closed: target reached

my given target has been successfully achieved