bearishwedge

After analyzing new data, I've decided not to close my short position on Bitcoin but to strengthen it. The entry point has been raised, and the chart is showing some very telling signs.
What Happened Overnight? ⏰
Bitcoin has been on a "swing" ride, hitting a low of $116,160 after potential highs were hit on shorter timeframes. However, a new "green stick" appeared, pulling liquidity once again from above. This constant back-and-forth is a classic sign of market manipulation and liquidity grabs.
The Key Clue: Stablecoin Dominance 📊
While BTC's chart is messy, the stablecoin dominance chart (USDT + USDC) is telling a cleaner story. It shows clear uptrends on the 3-hour and 4-hour timeframes, indicating that liquidity is being pulled from the market, which is typically a bearish signal for BTC. There are multiple potential lows marked on these timeframes, suggesting a potential move down is still supported.
Technical Confirmation on the BTC Chart 📈
After BTC's latest high at $117,220, we've received strong signals of potential highs on the 5-minute timeframe. This might seem insignificant, but it's the exact same pattern that preceded the reversal from the August 14th ATH. Additionally, a new potential high has appeared on the 3-hour timeframe, adding weight to the bearish case.
The "Bearish Wedge" Pattern 🐻
The entire recent growth from its previous low is forming a clear "Bearish Wedge" pattern. This is a classic bearish formation that suggests the price is losing upward momentum and could be on the verge of a sharp reversal. The key is that the breakeven level of my short position is currently well within the bounds of this pattern.
My Improved Position: ✅
I've raised my entry point and now have positions across three different exchanges:
Binance: 30x leverage, entry at $115,947.00, liquidation at $119,315.14.
Exchange 2: 30x leverage, entry at $115,945.37, liquidation at $119,214.10.
Exchange 3: 125x leverage, entry at $115,965.10, liquidation at $118,957.00.
My breakeven is now at $115,900.55 on Binance, making this a much safer position. The improved entry point gives me more room for a stop-loss and the chance to ride a potential significant move down.
Final Thoughts: 🧐
The charts are aligning, and the stablecoin dominance confirms the bearish outlook. I'm now in a stronger position and will observe the market for the next few hours. This is not financial advice, but a look at how I'm playing the current market volatility.
#BTCShort #CryptoAnalysis #BearishWedge #LiquidityGrab #BinanceTrading

$BTC Analysis: Bearish Rising Wedge Breakdown
The Rising Wedge pattern typically signals a bearish reversal, especially after a breakout. If follows the expected breakdown from the wedge, it could lead to a sharp decline, potentially targeting lower levels before seeing a rebound. Here's the strategy for traders:

Bearish Setup (Downside Targets):
Key Breakdown Zone: Watch closely at $38,000–$40,000 for a breakdown. A confirmed break below this level could accelerate the drop.Downward Targets:$35,000 (first support)$30,000 (second support)$25,000 (major support for a longer-term pullback)

Strategy:
Short Entry: If $BTC breaks below the lower boundary of the wedge (around $38,000–$40,000).Stop Loss: Place a stop loss around $43,000–$45,000 to limit losses if the breakout fails.Take Profits: Look to exit around $35,000–$30,000 for maximum profit.

Market Insights:
RSI and MACD: If these indicators confirm overbought conditions, it strengthens the case for the breakdown.Volume: Watch for volume spikes on the breakdown to confirm the move.Psychological Levels: $40,000, $35,000, and $30,000 are major psychological levels to monitor for bounces or further decline.

Pro Prediction:
Given the rising wedge pattern and market behavior, a pullback to $30,000–$25,000 is likely in the coming weeks. The market could recover after hitting those lower levels, potentially setting up for a rally back toward $100,000 in the future.

Advice for Traders:
Risk Management is key—use stop-losses and don't over-leverage.Patience: Let the price action confirm the breakdown, then ride the move down.Keep a close eye on market sentiment post-breakdown; a bounce from key support zones might offer a better long entry point after the dip.
Stay alert, stay disciplined—this pullback might just be a golden opportunity to accumulate $BTC at lower levels!
#BTCDrop #BearishWedge #CryptoCorrection #BTC30K #MarketShift #BitcoinSelloff