BTCUSD – 30M – Bearish Continuation From Supply

Jan 31

BTCUSD
After aggressive selling pressure, BTC attempted a corrective pullback but failed to reclaim the marked supply zone. This rejection indicates weak buying interest and suggests that the recent consolidation is a distribution phase before further downside. As long as price remains below the supply area, bearish continuation is favored.
Key Scenarios
❌ Bearish Case 📉 →
Rejection from the 83,800 – 84,300 supply zone opens downside continuation.
🎯 Target 1: 81,050 – 80,900
🎯 Target 2: 78,300 – 78,000
✅ Bullish Case 🚀 →
Only a strong breakout and acceptance above 84,300 would invalidate the bearish bias and shift price into a deeper corrective phase.
Current Levels to Watch
Resistance 🔴: 83,800 – 84,300
Support 🟢: 81,000 → 78,300

⚠️ Disclaimer: This analysis is for educational purposes only. It is not financial advice.

Feb 1

Trade closed: target reached