🚨 $BTR Overextended: Is the Bearish Reversal Imminent? 🐻
The recent rally in $BTR (Bitlayer) has caught everyone’s attention, but the technicals are flashing a major warning sign. After a parabolic move, the asset is now entering extreme overbought territory on the H1 timeframe.
With the RSI hitting 73, the momentum is showing signs of exhaustion. We’ve already seen strong profit-taking at the 0.1519 peak, suggesting that the bulls are running out of steam and a healthy correction is overdue.
📉 Technical Analysis & Trade Setup
The price action is currently forming a short-term reversal signal. If the support at the recent highs fails to hold, we expect a swift move toward lower liquidity zones.
* Trade Direction: Short 🔴
* Entry Zone: 0.146 – 0.1408
* Stop Loss: 0.151 (Protect your capital!)
🎯 Profit Targets (TP)
* TP1: 0.137 (Initial support)
* TP2: 0.132 (Key psychological level)
* TP3: 0.126 (Major structural retest)
💡 Why this trade?
The combination of an overextended RSI and a rejection at the 0.1519 resistance creates a high-probability setup for a mean reversion trade. Traders should watch for a break below 0.140 to confirm the bearish shift.
Risk Warning: High volatility expected. Always use proper risk management and never risk more than 1-2% of your account on a single trade.
#Bitlayer #BTR #CryptoTrading #TechnicalAnalysis #BearishReversal #TradingSignals
