Price respected the ascending channel multiple times → bullish structure.
Strong rejection near 70,500 – 70,800 resistance zone.
A lower high formation is starting to appear → early sign of weakness.
Bearish momentum increasing after rejection.
📉 Bearish Scenario (Primary Setup)
Entry Zone: ~70,300 – 70,500
Stop Loss: 70,850 – 71,000 (above resistance)
Target 1: 69,200
Target 2: 68,800
Final Target: 68,700 – 68,500
👉 The big blue arrow indicates a potential breakdown move toward the lower channel / liquidity zone.
📈 Bullish Invalidation
If price breaks and closes above 70,900, bearish setup fails.
Then BTC could push toward:
71,500
72,000+
Strong rejection near 70,500 – 70,800 resistance zone.
A lower high formation is starting to appear → early sign of weakness.
Bearish momentum increasing after rejection.
📉 Bearish Scenario (Primary Setup)
Entry Zone: ~70,300 – 70,500
Stop Loss: 70,850 – 71,000 (above resistance)
Target 1: 69,200
Target 2: 68,800
Final Target: 68,700 – 68,500
👉 The big blue arrow indicates a potential breakdown move toward the lower channel / liquidity zone.
📈 Bullish Invalidation
If price breaks and closes above 70,900, bearish setup fails.
Then BTC could push toward:
71,500
72,000+
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.