#BITCOIN SHORT-TERM ⟶ BEARISH BIAS PERSISTS!!
🔥#BITCOIN / ⏱15-Minute Timeframe
👉After a sharp decline that began yesterday in BITCOIN, we're witnessing a slow-paced recovery.
‼️However, BITCOIN is still trading below its weekly (62335.77) and monthly (62731.31) resistances📈📉
🔻As a result, the inclination towards a continued downtrend persists🔻
✅If it's going to drop from this current level, we should see a valid breakout below this bullish channel on the 15-minute timeframe‼️
✅But if a valid breakout doesn't occur, or if it occurs and then price rebounds, there are two significant resistance zones that could end the rally and initiate a renewed decline, providing us with an opportunity to sell at higher prices💰💰🔻
🚀The first resistance: The range of the bearish trend-line from the recent bearish movement (as indicated in the chart) and the resistance level of 60227.89.
🚀🚀The second resistance: 62335.77-62731.31!!
🎯The subsequent bearish targets are as follows:
💰Target 1: 57226.61
💰Target 2: 55036.44-55382.93
❌The stop-loss for the aforementioned bearish scenario is a break above the 62731.31 resistance on the daily timeframe❌
👉After a sharp decline that began yesterday in BITCOIN, we're witnessing a slow-paced recovery.
‼️However, BITCOIN is still trading below its weekly (62335.77) and monthly (62731.31) resistances📈📉
🔻As a result, the inclination towards a continued downtrend persists🔻
✅If it's going to drop from this current level, we should see a valid breakout below this bullish channel on the 15-minute timeframe‼️
✅But if a valid breakout doesn't occur, or if it occurs and then price rebounds, there are two significant resistance zones that could end the rally and initiate a renewed decline, providing us with an opportunity to sell at higher prices💰💰🔻
🚀The first resistance: The range of the bearish trend-line from the recent bearish movement (as indicated in the chart) and the resistance level of 60227.89.
🚀🚀The second resistance: 62335.77-62731.31!!
🎯The subsequent bearish targets are as follows:
💰Target 1: 57226.61
💰Target 2: 55036.44-55382.93
❌The stop-loss for the aforementioned bearish scenario is a break above the 62731.31 resistance on the daily timeframe❌
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