Bitcoin Rejected at Resistance — Bears Still Have the Edge for BINANCE:BTCUSDT by CRYPTO_HUUNTER
Bitcoin was rejected from $65,597, and the recent 4-hour price action is showing another bearish signal: volume has increased as price moves lower, suggesting that selling pressure is gaining strength. For now, I expect the downside move to continue. However, I'd prefer to wait for the market to build a clearer structure before entering, so I have a well-defined stop-loss. 📉 Short Setups Risky Short Trigger: $64,423 No reliable stop-loss level yet. Main Short Setup Trigger: $63,866 🎯 First …
Bitcoin was rejected from $65,597, and the recent 4-hour price action is showing another bearish signal: volume has increased as price moves lower, suggesting that selling pressure is gaining strength. For now, I expect the downside move to continue. However, I'd prefer to wait for the market to build a clearer structure before entering, so I have a well-defined stop-loss. 📉 Short SetupsRisky ShortTrigger: $64,423No reliable stop-loss level yet. Main Short SetupTrigger: $63,866🎯 First Target: $61,874If the daily RSI closes below 45. 8, it would provide additional confirmation that bearish momentum is strengthening. In that case, I'd be more comfortable holding short positions for a larger move. 📈 Bullish AlternativeIf buyers step in from current levels and volume expands on the rebound, a breakout above $65,597 could trigger a long opportunity. Long Trigger: $65,597First Target: $66,719For now, the market remains at a key decision point. Let price confirm the next move before committing to either side. Support and ResistanceTrend AnalysisDisclaimerThe information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in theTerms of Use. DisclaimerThe information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in theTerms of Use.