Hello everyone, here is my breakdown of the current BTCUSDT setup.

Market Analysis

BTCUSDT recently traded inside an upward channel before facing rejection near the 64,500 Resistance Zone. Price has since lost the channel support and is now consolidating below resistance, suggesting that short-term bullish momentum is weakening.

Currently, BTCUSDT is trading below the 64,500 Resistance Zone while holding above the 63,000 Support Zone. The rejection from resistance increases the risk of a deeper pullback toward the lower support area.

My Scenario & Strategy

As long as BTCUSDT remains below the 64,500 Resistance Zone and continues respecting the descending triangle resistance, the bearish scenario remains valid. A rejection from current levels could push price toward the 63,000 Support Zone (TP1).

However, if BTCUSDT breaks and closes above the 64,500 Resistance Zone, the bearish outlook would weaken, opening the door for a continuation toward higher levels.

That’s the setup I’m tracking. Thank you for your attention, and always manage your risk.