Asset: Bitcoin / TetherUS (BTCUSDT) Exchange: Binance Timeframe: 1D

Trend Direction: DOWNTREND

Resistance 1: 77,500 Resistance 2: 82,500 Support 1: 74,300 (current price / recent swing low zone) Support 2: 67,500

LONG Setup:

• Entry: 74,300
• Stop Loss: 72,000
• Take Profit 1: 77,500
• Take Profit 2: 82,500
• Risk/Reward: 1.4:1
• Confidence: LOW
• Reasoning: Price is sitting right on the prior March consolidation low and the dotted horizontal reference near 74,300 — that's the only structural case for a long here. The dominant trend is still lower highs and lower lows, so catching this as a bottom is a low-probability play against the structure.

SHORT Setup:

• Entry: 77,500
• Stop Loss: 79,000
• Take Profit 1: 74,300
• Take Profit 2: 67,500
• Risk/Reward: 2.1:1
• Confidence: HIGH
• Reasoning: Every rally since the February top has been sold into — the pattern of lower highs is intact. The 77,500 zone was the most recent breakdown point and has now flipped to resistance; that's where I'm looking to add short exposure.

Preferred bias: SHORT — price is printing a clear sequence of lower highs and lower lows from the 109,000 top, and the most recent bounce from the March lows has already been rejected, with price now back below 75,000 and accelerating lower.

Direct answer: My read here is that I'm not long. Price failed to reclaim 82,500, got rejected at 77,500, and is now breaking back toward the 74,300 area — the same level it struggled to hold in March. The structure is bearish. I'm not chasing a short at current price either — I'm waiting for the next dead-cat bounce into 77,500 resistance and shorting that level with a tight stop above 79,000. If 74,300 cracks with momentum, 67,500 is the next meaningful destination. The Bitdeer liquidation news reinforces the selling pressure backdrop — miners offloading is not a bullish signal.

This is not financial advice. Content is AI-generated.