Technical analysis by ayushpanchal92 about Symbol BTC: Sell recommendation (3/29/2025)
BTCUSDT Confirmed Bearish Break – Eyeing $82,500 Support
Description: Bitcoin has confirmed a bearish breakdown from the rising trendline support on the 1-hour chart, suggesting potential downside continuation. The price broke below the key ascending structure and retested the zone, which now appears to be acting as resistance. This bearish retest + rejection adds confluence to a sell setup. Key Observations: 🔹 Trendline Break: Clear violation of the ascending trendline. 🔹 Retest & Rejection: Price rejected near $85,500–$86,000 (previous support turned resistance). 🔹 Bearish Market Structure: Lower highs and lower lows forming after the breakdown. 🔹 Bearish Target: Next key support lies near $82,500. Bias: Bearish Trade Setup: 📉 Entry: Below $84,200 📉 Target 1: $82,500 📉 Target 2 (Aggressive): $81,000 🛑 Stop Loss: Above $86,000 (retest zone) Conclusion: BTCUSDT has shifted its structure from bullish to bearish with a confirmed trendline breakdown and retest. Unless bulls reclaim $86K+, downside continuation seems likely.