BTCUSDT: Failed Breakout and Trendline Loss Open Path to 67,000

[cryptoenthusiast]

Hello everyone, here is my breakdown of the current BTCUSDT setup.

Market Analysis

BTCUSDT is trading below a key resistance zone after forming a head and shoulders pattern, which signals a potential trend reversal to the downside. Price previously respected a triangle resistance line and failed to break higher, confirming selling pressure.

Currently, after the breakdown, BTC lost the ascending trend line support and is now consolidating below the 69,600 resistance zone, showing weak bullish attempts and rejection from this level.

My Scenario & Strategy

As long as price remains below 69,600 resistance, the bearish bias remains valid. A rejection from this area could push BTCUSDT toward the 67,000 support zone, which is the main downside target.

However, if price breaks and holds above 69,600, the bearish scenario would weaken and the market could shift into consolidation.

That’s the setup I’m tracking. Thank you for your attention, and always manage your risk.

[kevin1]

love how every rejection confirms the bias until it suddenly doesn’t.