BTC/USDT 1H: Bears Take Control – Targeting $102K Next!

BTC/USDT 1H Chart Analysis
🚀 Follow me on TradingView if you respect our charts 📉

Current Market Structure:

• Price: $104,560, facing rejection at premium zone (106-107K).
  
• Bearish Bias: Failed breakout, with hidden bearish divergence on RSI (48.74).
  
• Smart Money Activity: Clear distribution pattern at premium, likely targeting PCL (Previous Consolidation Low).
  

Trade Setup (Confidence 8/10):

• Short Entry: Current price to 105K.
• Targets:
  
• T1: 103.2K (PCL).
  
• T2: 102K (Equilibrium Zone).
  
• Stop Loss: Above 106.2K (premium rejection).
  
• Risk Score: 7/10 (strong R:R setup).
  

Market Maker Intent:
Distribution Phase in Play, suggesting accumulation around 102K-103K.

• Volume Profile & RSI Confirming the bearish move.
  
• Rejection from premium zone needs confirmation for ideal entry.
  

Recommendation:

• Short positions favorable from 104.5K-105K.
• Wait for rejection confirmation before entering.
  
• Manage risk accordingly—position sizing is key.
  
• Confidence Level: 8/10 for bearish continuation.
  

📉 Follow me on TradingView if you respect our charts! 🚀