BTC/USDT 1H: Potential Bearish Rejection - Targeting 64,316 Supp
Bitcoin / TetherUS BINANCE:BTCUSDT
BTC/USDT is currently displaying a potential short setup on the 1-hour timeframe.
Key Observations:
• Resistance Rejection: Price experienced a clear rejection near the recent high (~65,485 zone), indicating seller interest and potential exhaustion among buyers.
• Bearish Structure: The current price action suggests a reversal move heading back down towards the recent demand/support zone.
• Target & Invalidations:
- Stop Loss (Invalidation Level): Around 65,485 (above the recent swing high).
- Target (Take Profit): Around 64,316 (key support level/liquidity area).
Trading Plan:
Looking for a downward move towards the support level around 64,300. Maintain strict risk management.
