BTCUSD is currently trading around 116,980, facing strong rejection near the 117,200–117,500 resistance zone. The recent price action suggests that sellers are gaining control as bullish momentum fades. A sustained move below 116,800 could trigger further downside pressure, pushing Bitcoin toward 115,500 and 114,800 in the short term. If the bearish structure remains intact, the next major target lies near the psychological level of 110,000, which aligns with previous demand zones and a key Fibonacci retracement level. Stop-loss should ideally be placed above 117,600 to protect against any false breakouts. Watch for increased volatility during US trading hours and upcoming macroeconomic data releases, as these could accelerate the move. Overall bias remains strongly bearish as long as BTC trades below 117,500.
Trade closed: target reached
hello guys are you happy with this target ?
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HELLO DEAR TRADER FOREX GOLD BTC SIGNAL FREE MY TELEGRAM CHANNEL; t.me/+--cs5g1N95lmYWZk t.me/+--cs5g1N95lmYWZk
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.