Bitcoin (BTCUSDT) Rejection From Premium Zone
Hi!
BTC was rejected from a higher-timeframe premium/supply zone near the top of the ascending channel, followed by a sharp bearish impulse. Price has now broken below the channels mid-structure and is consolidating under former support, which has turned into resistance. As long as BTC remains below this reclaimed level, the structure favors continuation to the downside. A corrective bounce toward the highlighted resistance zones is possible, but failure there may open the path toward the next liquidity levels around the lower dashed supports. Overall bias remains cautious to bearish unless price reclaims the broken channel with strength.
First entry area: $87800
Second entry area: $88800
First target area: $85900
Second target area: $85100