Attention crypto traders! $BTC USDT is currently facing a trendline rejection and maintaining a bearish structure. 📉
Consider a Short position on BTC.
Entry: 70,300 & 70,900
SL: 72,600
TP1: 69,000
TP2: 67,700
TP3: 66,500
BTC is respecting a clear descending trendline on the 1-hour chart, with recent price action retesting this dynamic resistance. The price failed to reclaim structure above 71,000 and shows rejection near the trendline, indicating weak bullish follow-through.
As long as BTC remains capped below 72,600, the technical structure favors a continuation towards the 69,000 liquidity zone. Deeper targets are observed around 67,700 and 66,500, aligning with previous demand levels.