📉 BTCUSD – 2H Chart Outlook
Timeframe: 2H (2-Hour)
Current Price: ~$118,929
Bias: Bearish Rejection Expected
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🔍 Key Technical Zones:
🔺 Resistance Zone:
📍 ~121,000 – 123,500
Price has repeatedly failed to break above this area.
Acts as a strong supply zone where sellers step in.
Price recently reversed just below this zone.
---
🟥 Support Zones:
Support Zone 1:
📍 ~116,000 – 117,000
May act as temporary support on the way down.
Possible bounce area, but not a major barrier.
Support Zone 2 (Main Target Area):
📍 ~113,500 – 114,500
A broader, more significant demand zone.
Price could drop here if Support Zone 1 fails.
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📈 Projection:
A bearish leg down is drawn, showing:
1. Rejection below resistance.
2. Break below Support Zone 1.
3. Continuation to Support Zone 2 as final target.
Estimated downside move: ~6,129 points (-5.13%)
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✅ Summary:
Setup Type: Bearish rejection and continuation.
Price Action: Sideways range under resistance — now leaning bearish.
Trade Bias: Short bias toward Support Zone 2 (~113.5K – 114.5K).
Invalidation: A strong breakout above 123.5K resistance.
---
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Timeframe: 2H (2-Hour)
Current Price: ~$118,929
Bias: Bearish Rejection Expected
---
🔍 Key Technical Zones:
🔺 Resistance Zone:
📍 ~121,000 – 123,500
Price has repeatedly failed to break above this area.
Acts as a strong supply zone where sellers step in.
Price recently reversed just below this zone.
---
🟥 Support Zones:
Support Zone 1:
📍 ~116,000 – 117,000
May act as temporary support on the way down.
Possible bounce area, but not a major barrier.
Support Zone 2 (Main Target Area):
📍 ~113,500 – 114,500
A broader, more significant demand zone.
Price could drop here if Support Zone 1 fails.
---
📈 Projection:
A bearish leg down is drawn, showing:
1. Rejection below resistance.
2. Break below Support Zone 1.
3. Continuation to Support Zone 2 as final target.
Estimated downside move: ~6,129 points (-5.13%)
---
✅ Summary:
Setup Type: Bearish rejection and continuation.
Price Action: Sideways range under resistance — now leaning bearish.
Trade Bias: Short bias toward Support Zone 2 (~113.5K – 114.5K).
Invalidation: A strong breakout above 123.5K resistance.
---
Would you like a trading plan (entry, SL, TP) or a caption/title for a TradingView post based on this setup?
Trade closed: target reached
Target Done 700+ pips hit
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t.me/+TDB1omSq6K1lYmM0
t.me/+TDB1omSq6K1lYmM0
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.