BTC/USDT - Rejection from Key Level with Bearish Continuation

١٤ أكتوبر ٢٠٢٤

hello guys.

actually, btc surprised me!

Hunting Level Rejection:
Bitcoin has reached the hunting level (around $65,100), showing signs of resistance and potential reversal. The price briefly spiked into this level but faced rejection, signaling exhaustion in buying pressure.

Bearish Engulfing Potential:
If the price fails to hold the current level and shows a bearish engulfing pattern, it will likely initiate a downward move. This move would invalidate further bullish attempts in the short term.

First Target:
The first significant support zone lies around $63,100, which could act as the initial target for any downward momentum.

Final Target:
A stronger bearish continuation could drive the price toward $59,300 (the lower hunting level), aligning with prior accumulation zones and a solid demand area.