Bitcoin (BTC/USDT) Bearish Breakdown: Price Drops with Further D
2025-02-03
Category: None

This chart is a Bitcoin/USDT (BTC/USDT) 

Key Observations:

1. Downtrend Pattern:

The price is in a clear downtrend, as indicated by the curved red and blue downward channel.

A bearish momentum is evident, with multiple price levels showing declines.



2. Price Declines and Targets:

The price dropped by -4,538.43 USDT (-4.48%) in 1 day and 10 hours, reaching 97,896.12 USDT.

A further drop of -5,255.01 USDT (-5.19%) is projected within 1 day and 19 hours, reaching 96,072.88 USDT.



3. Failure Zone:

A "FAILURE" label is marked near the lower price target, indicating a possible breakdown zone where further declines might occur.



4. Resistance and Support Levels:

98,542.86 USDT is a key level where price is currently at (as per the latest timestamp).

96,000 USDT region is a critical support level.




Conclusion & Possible Next Moves:

Bearish Sentiment: The price action suggests further downside pressure, possibly testing the 96,000 USDT level.

Potential Breakdown: If support at 96,000 USDT fails, more downside risk could follow.

Reversal Signal?: A strong bounce from support zones would be required to shift momentum back to bullish.


Trading Considerations:

If you’re shorting BTC, consider trailing stops to protect profits.

