$BTC

Short

Entry - 86300

TP - 82000

Stop Loss - 88000

The BTCUSDT chart on the 1D timeframe displays a bearish sentiment, primarily driven by the Head and Shoulders pattern indicating potential further declines. The RSI is below 30, suggesting the asset is in oversold territory, but this might indicate a continuation of the current bearish trend rather than an immediate reversal. Additionally, the MACD has shown a bearish crossover, reinforcing the bearish sentiment. The price is currently below both the 50-day and 200-day moving averages, which further supports the bearish outlook. The presence of a descending triangle pattern suggests downward pressure, with potential support levels at 84000.00 and 82000.00. Resistance levels at 88000.00 and 90000.00 may prevent upward movement, creating a bearish trading environment. Therefore, a sell recommendation is given with a target price of 82000.00 and a stop loss at 88000.00 to manage risk.