BTC/USDT Short Trade Setup: Bearish Momentum Building Below $68K
Bitcoin ($BTC /USDT) is currently trading near $66,366, showing short-term bearish pressure on the 1-hour timeframe. The price recently rejected from the $68,000 resistance zone and formed strong red candles with increasing volume, indicating sellers are gaining control. The 7 MA has crossed below the 25 MA, and price is trading under key moving averages, signaling short-term downside momentum.
The immediate resistance zone stands between $67,200 – $68,000, where multiple rejections have occurred. Meanwhile, the next support area is visible around $65,700 – $65,500. If BTC breaks below this support with strong volume, further downside toward $64,800 cannot be ruled out.
📉 Short Trade Idea:
Entry: $66,800 – $67,200 (on pullback)
Stop Loss: Above $68,200
Target 1: $65,700
Target 2: $64,800
Risk Management: Use proper leverage and avoid overexposure.
Volume spikes on red candles suggest distribution rather than accumulation. Until $BTC reclaims $68,000 with strength, the bias remains bearish in the short term. Traders should monitor volatility closely, especially around support levels.
⚠️ This is a technical analysis based on chart structure, not financial advice. Always manage risk carefully. #BTC
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