🚨 $BTC Bearish Trend Alert – Stay Cautious! 🚨
$BTC is trading at $62,779.82, moving within a descending channel on the 4-hour chart. The price has been repeatedly rejected at the upper boundary of the channel, indicating persistent bearish pressure. With BTC struggling to break through resistance, the downtrend remains intact.
💡 Key Levels to Watch:
Resistance: $63,500 – A break above this could signal a reversal, but until then, the bearish trend holds.
Support: $62,000 – If BTC breaks below this level, expect further downside toward $60,000 or even $58,000.
📉 Trade Setup:
Bearish Play: Enter below $62,000 with a target near $60,000, with a stop-loss at $63,500.
Bullish Play: Wait for a confirmed breakout above $63,500 to invalidate the bearish trend and target $65,000.
⚠️ Market Insight: BTC remains under bearish control within the descending channel, suggesting sellers are still in the driver’s seat. Watch for a possible breakdown below support to trigger more selling pressure.
