BTCUSDT has failed to break through the descending resistance near 120,000 and is now forming a lower high within the broader resistance zone. The price action follows an impulsive leg up and is currently tracing a potential reversal pattern under key structural resistance. As long as the market remains capped below 120,000, continuation toward 117,500 is likely. The downward bias is supported by weakening momentum after the bull trap and resistance rejection.📉 Key Levels
- Sell trigger: Breakdown below 119,000
- Sell zone: 119,400 – 120,000
- Target: 117,500
- Invalidation: Break and close above 120,500
💡 Risks
- Sudden bounce from the 119,000 handle could trap late sellers
- Breakout above 120,000 would shift structure to bullish
- Support near 117,500 may slow or reverse bearish pressure
If this idea resonates with you or you have your own opinion, traders, hit the comments. I’m excited to read your thoughts!
Trade closed: target reached
The hits the target
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🌎WebSite: lingrid.org
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.
💰FREE FOREX signals in Telegram: bit.ly/3F4mrMi
🚀FREE CRYPTO signals in Telegram: t.me/cryptolingrid
🌎WebSite: lingrid.org
🚀FREE CRYPTO signals in Telegram: t.me/cryptolingrid
🌎WebSite: lingrid.org
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.