$BTC USDT at 68.8K – Breakdown Loading or Fake Dip Before 70K?
Bitcoin is currently trading around 68,801 on the 15-minute timeframe after rejecting the intraday high near 69,483. Price action shows repeated failure to hold above the 69,100–69,300 resistance zone, which is acting as a strong short-term supply area.
Key Levels: Resistance: 69,100 – 69,500
Support: 68,700 (minor intraday)
Major Support: 68,000 – 67,800
We are seeing lower highs forming on the 15m chart, suggesting short-term bearish pressure. The recent red candles show sellers stepping in aggressively near 69K. If RSI is hovering below 50 on this timeframe, that confirms weakening bullish momentum. A bearish MACD crossover or flattening moving averages would further support short-term downside continuation.
Market Sentiment: Short-term trend looks Bearish to Neutral. Bulls failed to maintain control above 69K, and momentum is cooling. However, as long as 68,000 holds, the broader structure remains intact.
Strategy: Wait for confirmation.
Aggressive traders may look for short scalps below 68,700 targeting 68,000.
Safer approach: Wait for a clean breakout above 69,500 for bullish continuation toward 70K. No confirmation, no trade.
Risk management is key in this tight range.
Are you expecting a breakdown toward 67K or a squeeze above 70K next?
Not Financial Advice (NFA).