๐ BTCUSDT Market Overview
Current price **68,447 USDT** is trading around, and in the last 24 hours, we have seen a **~7% strong dump**. The price made an important intraday low of **66,666**, from where there was a slight bounce, but the overall structure still looks **bearish**.
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## ๐ Technical Analysis
### Moving Averages:
* **MA(7): 67,595** โ short-term support
* **MA(25): 69,164** โ strong resistance
* **MA(99): 71,467** โ trend-defining resistance
The price is currently trading **below MA(25 and MA(99)**, which clarifies that the **trend is bearish**. Selling pressure is coming in on every bounce.
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### Price Action:
* Strong rejection from **71,700โ72,000**
* Continuous **lower high โ lower low** pattern
* Bounce from **66,666** could be a *dead cat bounce* unless strong confirmation is received
Volume was high at the time of the dump, indicating panic selling. Volume is comparatively low during the bounce, showing weakness from buyers.
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## ๐ด Primary Signal: SELL on Rise
**Sell Entry Zone:**
๐ **68,900 โ 69,300**
**Targets:**
๐ฏ TP1: **67,500**
๐ฏ TP2: **66,700**
๐ฏ TP3 (aggressive): **65,800**
**Stop-Loss:**
โ **70,200**
๐ Reason:
* Rejection expected from MA(25)
* Trend is bearish
* Bounce occurred on low volume
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## ๐ข Counter Trend BUY (High Risk)
For experienced traders only:
**Buy Entry:**
๐ **66,800 โ 67,000**
**Targets:**
๐ฏ 68,200
๐ฏ 69,000
**SL:**
โ **66,200**
โ ๏ธ This is just a scalp trade, against the trend.
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## ๐ง Important Levels
* **Strong Support:** 66,600 โ 66,800
* **Intraday Resistance:** 69,200
* **Trend Flip Level:** Above **70,500** with volume
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## โ ๏ธ Risk Management
* Leverage **5xโ10x max**
* Do not take more than **2โ3% risk per trade**
* Always set SL on news or sudden BTC volatility
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