Market Structure: Bearish 📉
Price has broken below multiple support levels and is currently testing a major demand zone around 71,400–70,500. Momentum remains strongly bearish with a series of lower highs and lower lows.
Key Levels:
- Resistance 1: 73,400
- Resistance 2: 75,400
- Resistance 3: 77,300
- Support 1: 71,400 (current zone)
- Support 2: 70,400
- Support 3: 69,000
Trading Scenario:
- If BTC holds above 71,400 and forms bullish confirmation, a corrective move toward 73,400 → 75,400 is possible.
- If 71,400 breaks decisively, selling pressure could extend toward 70,400 and potentially 69,000.
Trade Setup:
- Buy: Only after a confirmed bullish rejection from 71,400.
- Sell: On a H4 close below 71,400 with targets at 70,400 and 69,000.
- Stop Loss: Above/below the breakout candle depending on entry direction.
Conclusion:
BTCUSD remains bearish on the H4 timeframe. The 71,400 support zone is the critical level to watch. A break lower favors continuation selling, while a strong rebound could trigger a short-term recovery toward higher resistance levels.
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