BTCUSDT Short: Pullback Scenario Toward 71,200 Before Next Move

Mar 5

Hello traders! Here’s my technical outlook based on the current BTCUSDT (1H) chart structure. Bitcoin previously moved within a clearly defined descending channel, where price consistently printed lower highs and lower lows, confirming sustained bearish pressure during that phase. Sellers controlled the structure as the market repeatedly respected the upper boundary of the channel while gradually pushing price lower. The decline eventually reached a major pivot point where strong buying interest appeared near the lower boundary of the structure. Following this reaction, BTC formed a sharp breakout above the descending channel, signaling the first sign of structural recovery. This breakout shifted short-term market sentiment and allowed price to transition into a new bullish phase, supported by the formation of a rising demand trend line. From that moment, buyers regained momentum and began printing higher highs and higher lows, confirming a developing upward structure.

Currently, price is trading within this compression pattern, where the market is forming lower highs against the descending supply line while still holding above the key demand zone around 71,200. This level now acts as the primary structural support where buyers may attempt to defend the bullish structure.

My primary scenario as long as BTCUSDT holds above the 71,200 demand zone and continues to respect the rising demand trend line, the broader bullish structure remains intact. However, the presence of the descending supply line suggests that short-term pressure from sellers still exists. If price continues to reject from this resistance area, a controlled pullback toward the 71,200 demand zone becomes the most likely scenario. This level represents the key reaction area where buyers could step back in and attempt to resume the upward movement. A strong reaction from this demand zone could trigger another bullish push toward the 74,100 supply region, which remains the next major resistance. A confirmed breakout and acceptance above this level would signal renewed bullish momentum and open the path for further upside expansion. For now, BTC remains in a tightening structure between supply and demand, where patience and confirmation are essential before entering new positions. Manage your risk!

Mar 6

Trade closed: target reached

Bitcoin continued its downward movement in the triangle pattern we identified. The target has been reached. In my opinion, the decline will continue.