"Bitcoin Rejection at Resistance – Will 98K Support Hold?"
2025-02-05
Category: None

This is a Bitcoin (BTC/USDT)

Market Structure & Key Levels

Resistance: Around 102,000 USDT (Upper Blue Line)

Support: Around 98,000 USDT (Lower Blue Line)

Current Price: 100,484.97 USDT


Pattern & Expected Move

The price has failed to break above resistance and is showing signs of rejection.

A lower high formation is developing, suggesting a potential bearish move.

The red arrow suggests that price may retest resistance, form a rejection, and then drop toward 98,000 USDT support.

If the support at 98,000 USDT breaks, we could see further downside continuation.


Trading Plan

🔹 Bearish Scenario:

Watch for bearish rejection near resistance (~101,000-102,000).

Potential short entry targeting 98,000 with a stop above 102,000.

If 98,000 breaks, next target could be 95,000-96,000.


🔹 Bullish Scenario:

A strong break & close above 102,000 USDT would invalidate the bearish setup.

If that happens, BTC could aim for 105,000+ USDT.
