I’m bearish on , and here’s why, along with my invalidation level.
Currently, Bitcoin is trading within the same range of 93,000–98,500 over the past two weeks. We’ve seen multiple rejections from the trendline, as shown in the chart. Yesterday, following the Korea FUD, Bitcoin dipped to the strong 100 EMA support, bounced back, and recovered nearly 3,000. However, we are now approaching the same trendline zone where rejections have repeatedly occurred.
I wouldn’t recommend opening any new longs, especially with several key financial events this week, including CPI data and jobless claims.
My Invalidation: Every trade needs an invalidation level. For this setup, to see a bullish case, Bitcoin must first close above 98,200–98,400, preferably with multiple 4H candle closures. This should be followed by a retest around the 97.5–97.6K zone. A small consolidation here could lead to a pump toward new highs.
Can we short? Yes. If you’re not in any trade, you could short between the 97K–97.6K zone with a stop-loss at 98,600. Any 1H/4H candle close above 98,600 would invalidate the short setup.
There are several reasons indicating a potential dip toward the 90–88K zone, but I won’t list them here. This analysis is purely based on charts. Fundamental data can be easily found through various sources
