BTCUSDT: Rejected at 72.8K - 70.5K Support in Focus

7 days ago

Hello everyone, here is my breakdown of the current BTCUSDT setup.

Market Analysis

BTC previously traded inside a downward channel, forming lower highs and confirming bearish pressure. After multiple breakdown attempts, price found support and entered a range, showing consolidation before the next move. Following this, BTC shifted into an ascending channel.

Currently, price is trading below resistance and holding above the 70,500 support zone, while the structure shows weakening bullish strength after rejection.

My Scenario & Strategy

As long as BTCUSDT remains below the 72,800 resistance, the bearish bias stays valid. A rejection from this area could push price toward the 70,500 support (TP1) as the next downside target.

However, if price manages to break and hold above 72,800, the bearish scenario would weaken and the market could shift into continuation of the uptrend.

That’s the setup I’m tracking. Thank you for your attention, and always manage your risk.

6 days ago

Trade closed: target reached

We see a situation where another impulse to resistance soon followed. Where the sellers finally rejected the level and the price fell straight to our target. Even faster than I expected.