$BTC Rejected at Resistance. Distribution Phase in Play!

Apr 16

BTC Update

In my opinion, BTC got rejected from the trendline resistance and is now consolidating in a range.

Price is holding for now, but we’re still below a strong resistance zone, and the structure doesn’t look very strong. We also have bearish divergence on RSI, which suggests weakness.

If this range breaks down, we could see a move toward lower levels.

For now, this looks like distribution rather than continuation.

Apr 17

Trade active

BTC Update – Simple View

Guys, BTC is still trading below this descending trendline, and that’s the key level right now.

Last time, we saw a distribution phase of around 69 days, and after that, the price broke support and dropped. Right now, we are seeing a similar structure again, and it has already been around 71 days of distribution, but we still haven’t seen any clear breakout or breakdown.

Until we break and hold above this trendline, I’m still bearish on BTC.

Commit your views below 👇

Apr 18

Trade closed: target reached

BTC Rejection Zone Hit 👀

Price has pushed into a major confluence zone, descending trendline, and dynamic resistance.

The move up looks corrective inside a rising channel, not a strong breakout.
This area is clearly acting as resistance, and the price is already showing hesitation here.

Structure remains bearish overall.

Expecting rejection from this zone with a move back toward $72K–$68K.

Not a place to chase longs, downside looks more likely from here.
Comment your views below 👇
DYOR, NFA
#Bitcoin

Apr 19

Note

BTC

Clean rejection right from the trendline resistance, and you can clearly see the weakness in price after the tap. Momentum is fading here, and buyers don’t look strong enough to push it higher.

This could be the start of the downside move we’ve been waiting for. Let’s see how price reacts from here.

What are your thoughts on this setup?