BTCUSDT: Pullback To Support Zone Before Possible Further Growth

7 days ago

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

Market Analysis

BTCUSDT previously traded inside a descending channel before breaking below a consolidation range, extending the bearish trend. After finding support near the 61,000 Support Zone, buyers stepped in and pushed price above both the channel resistance and the descending trendline, signaling improving short-term momentum.

Currently, BTCUSDT is trading above the 61,000 Support Zone while remaining below the 65,600 Resistance Zone. Price is approaching a key resistance confluence, where sellers may attempt to regain control.

My Scenario & Strategy

As long as BTCUSDT remains below the 65,600 Resistance Zone, the bearish scenario remains valid. A rejection from the descending channel resistance could return the price to the 61,000 support zone (TP1), where buyers could attempt to stabilize the market.

However, if BTCUSDT breaks above the 65,600 Resistance Zone and confirms a sustained move higher, the bearish outlook would weaken and a stronger bullish continuation could develop.

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

6 days ago

Trade active

As you can see, we got a bounce from the upper limit of the kaknal as I expected. All that remains is to wait for the decline to the target!

4 days ago

Trade closed: target reached

As we can see, we have a good result. We were able to drop to the support zone, where this time buyers intervened very aggressively, as if trying to break the trend structure. What do you think about it???