BTCUSDT Analysis: Short Opportunity Targeting $95,093 
2024-12-01

Overview:

BTC is currently demonstrating weakness as it fails to hold above key levels. The recent rejection around the previous session’s POC and the inability to sustain above critical moving averages signal bearish momentum. A short position targeting $95,093 appears highly favorable given the prevailing market conditions.

Justification for the Short:

	1.	TPO Analysis:
	•	The visible TPO structure highlights weak buying support in the current session. The price has consistently failed to establish a solid value area above $96,178, indicating that sellers are dominating.
	•	The lower TPO levels below the $96,178 mark show thinly auctioned zones, suggesting that the market is likely to revisit and fill these inefficiencies.
	2.	POC Rejection:
	•	The rejection at the current session’s POC aligns with the bearish sentiment. The price was unable to reclaim this level and establish new value, reinforcing the downtrend.
	•	The TPO suggests strong resistance at $96,390, which further validates this bearish bias.
	3.	Moving Averages Breakdown:
	•	BTC is trading below key moving averages (marked in orange and pink), which are now acting as dynamic resistance levels. This signals that the bears are in control and a downside continuation is likely. Also a death crossover on the benign
	4.	Prior Analysis Nullification:
	•	While earlier BTC analysis leaned toward recovery, the failure to sustain momentum nullifies that outlook. The recent bearish reaction at key levels indicates that sellers are overpowering any attempt at bullish recovery.
	5.	Volume Profile Confirmation:
	•	The volume profile shows a sharp drop-off below $96,178, with low-volume nodes extending toward $95,093. This indicates minimal buying interest, paving the way for a swift move to the downside.

Key Levels:

	•	Resistance: $96,390 (POC), $96,178 (recent high TPO level)
	•	Support: $95,093 (Target and next major TPO base)

Trade Idea:

	•	Entry: Below $96,178 for a conservative short.
	•	Target: $95,093 (value area and next major support).
	•	Stop Loss: Above $96,390 (rejection point).
	•	Risk/Reward: Favorable due to clear downside levels and TPO inefficiencies.