#ShareYourThoughtOnBTC

📉 Bitcoin (BTC) Bearish Trend – Today’s Market Position

🔹 Market Overview

Today, Bitcoin (BTC) is showing signs of bearish momentum, with traders and investors keeping a close eye on critical support and resistance levels. Despite brief upward moves, the overall structure indicates a downside bias.

Current Price: $BTC ≈ $122,782

Intraday High: ≈ $123,928

Intraday Low: ≈ $119,360

24h Change: +0.016%

This narrow trading range reflects market indecision, but technical signals point towards potential downside pressure.

🔹 Technical Analysis

1. 📊 Chart Structure

BTC has recently broken down from a rising wedge pattern, a traditionally bearish signal.

Weekly candle shows a bearish engulfing formation, suggesting short-to-mid-term downside risk.

2. 📉 Key Support & Resistance

Support:

Strong level at $105,000 – if this breaks, BTC could test $100,000 → $94,000.

Resistance:

Short-term resistance near $120,000–$123,000.

If BTC fails to reclaim this level, sellers may gain more control.

3. 📈 Indicators & Momentum

Momentum indicators like RSI and MACD are showing weak recovery signs and lean bearish.

Price is hovering around moving averages – a sustained breakdown below the 50-day and 200-day MA could accelerate downside momentum.

🔹 Trading Strategy

Direction Sentiment Notes

Short (SELL) ✅ Medium–High Enter near resistance with strict stop-losses

Long (BUY) ⚠️ Low Only if BTC confirms bounce at strong support

Neutral (WAIT) ✅ Medium Safer to wait for a clear breakout or breakdown

Stop-Loss (SL): Above $123,000

Take-Profit (TP): $110,000 → $105,000 → $100,000

⚠️ Risk Factors

Sudden institutional buying or positive news may trigger a short squeeze.

Macro events (U.S. interest rates, regulations, ETF inflows) can shift momentum quickly.

If $105K holds strong, bears may face difficulties pushing lower.

what you 🤔??