Bitcoin in a Descending Channel

10 Nis

Hello guys!

BTC is currently trading within a well-defined descending channel, showing consistent lower highs and lower lows since mid-March.

• Descending Channel: The upper and lower boundaries have acted as reliable resistance and support zones.
  
• Double Bottom Pattern: Price action recently formed a double bottom near the $75,000 zone (marked "HUNT2"), which is typically a bullish reversal signal.
  
• Breakout Target: The neckline breakout from the double bottom targets the $85,000–86,000 zone, which aligns with the upper boundary of the channel — a confluence resistance.
  
• Fakeouts (HUNT1 & HUNT2): These "hunt" zones likely represent liquidity grabs or stop-loss sweeps, indicating strong institutional manipulation before major moves.
  

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🔮 What's Next?
🎯 Bullish Scenario: After touching the lower level of the neckline, it goes to touch the top line of the channel and touches the target of the pattern.
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⚠️ Bearish Scenario: Rejection from the $85K zone could send BTC back down toward 73K–$ 74 K. Further downside could bring the $69K–$70K zone into focus.

10 Nis

İşlem aktif

12 Nis

Not

#btcusdt #btc
The first position which was a long position is towards the target and we should wait for getting confirmation of short at the pointed area!

13 Nis

İşlem kapandı: hedefe ulaştı

the target of long position has been touched!