BTCUSD Bearish Rejection at Resistance | Sell Setup

Jul 5

BTCUSD has rallied strongly after breaking out of the descending channel and is now testing a major resistance zone. Price is showing signs of rejection near resistance while trading around the Ichimoku cloud, suggesting a possible short-term pullback before any further upside.

If sellers defend the highlighted resistance area, BTCUSD could retrace toward the **61,633** support level. A confirmed rejection from the resistance zone would strengthen the bearish correction scenario.

🎯 **Target:** **61,633**
📉 **Bias:** Bearish (Short-Term Pullback)
⚠️ **Invalidation:** A strong breakout and close above the resistance zone could invalidate the bearish setup and signal continuation to the upside.

Jul 5

Trade active

Active

Jul 7

Trade closed: target reached

my given target has been successfully achieved