Bitcoin daily chart:
🔻 Bearish Signals
1. Break of Rising Trendline:
The price has broken below the upward (orange) trendline, indicating a shift in momentum.
This trendline had previously acted as support, so the break suggests growing selling pressure.
2. Support Levels:
BTC is now hovering just above $99,634, which appears to be a key short-term support.
The next major support is around $93,363 — a break below that could open the door to mid $80K or even $71K (0.786 Fibonacci level).
3. Market Cipher Indicator (middle panel):
The momentum wave is clearly descending, and VWAP (green) is curving down.
The money flow (red) is negative.
Bearish dots and crosses are appearing.
4. Stochastic RSI (bottom panel):
Both %K and %D lines are dropping sharply below the 20 line, suggesting downside momentum is strong.
No sign of bottoming out yet.
🟡 Neutral/Bullish Watch Points
If BTC holds $99.6K and reclaims $100,115 or $104,616, it could neutralize or reverse this bearish setup.
RSI is not oversold yet, so room remains for further downside before any strong bounce.
📉 Summary:
BTC is currently bearish on the daily chart with:
Breakdown from an uptrend.
Weak momentum.
Declining oscillators.
Support tests underway.
If $99.6K fails, eyes shift to $93.3K, and below that, $86.5K–$71.9K as potential zones.
....
🔻 Primary Trade Setup (Bearish)
⚙️ Type: Short Position
⏰ Timeframe: Daily
📉 Strategy: Trendline break and momentum continuation
Entry:
Below $99,500 (confirmation of trendline breakdown & continuation)
Targets:
1. Target 1: $93,363 — Previous support level
2. Target 2: $86,500 — Next horizontal support
3. Target 3: $71,949 — Major 0.786 Fibonacci level (high confluence)
Stop-Loss:
Above $100,600 (to avoid fakeout wicks)
Or tighter: $100,150 (for smaller R:R)
Risk-to-Reward (R:R):
Entry: ~$99,500
SL: ~$100,600 → ~1.1% risk
TP1: ~$93,300 → ~6.2% reward
R:R ≈ 5.6:1 (to TP1) — solid risk profile
🔄 Alternate Plan (Bullish Reversal Setup)
⚙️ Type: Long Position (Only IF price reclaims broken levels)
If BTC reclaims $100,600 and closes above $104,616, trend could resume up.
Entry:
Break and daily close above $104,616
Targets:
1. $110,616 — recent resistance
2. $112,000 — psychological + historical zone
Stop-Loss:
Below $100,600
Invalidates upward breakout
📊 Indicators to Watch:
VWAP: Still pointing down (bearish bias)
Money Flow Index: Still in red (risk-off)
Stochastic RSI: Resetting near bottom — could support bounce later
Much love and appreciation,
– chevs710
🔻 Bearish Signals
1. Break of Rising Trendline:
The price has broken below the upward (orange) trendline, indicating a shift in momentum.
This trendline had previously acted as support, so the break suggests growing selling pressure.
2. Support Levels:
BTC is now hovering just above $99,634, which appears to be a key short-term support.
The next major support is around $93,363 — a break below that could open the door to mid $80K or even $71K (0.786 Fibonacci level).
3. Market Cipher Indicator (middle panel):
The momentum wave is clearly descending, and VWAP (green) is curving down.
The money flow (red) is negative.
Bearish dots and crosses are appearing.
4. Stochastic RSI (bottom panel):
Both %K and %D lines are dropping sharply below the 20 line, suggesting downside momentum is strong.
No sign of bottoming out yet.
🟡 Neutral/Bullish Watch Points
If BTC holds $99.6K and reclaims $100,115 or $104,616, it could neutralize or reverse this bearish setup.
RSI is not oversold yet, so room remains for further downside before any strong bounce.
📉 Summary:
BTC is currently bearish on the daily chart with:
Breakdown from an uptrend.
Weak momentum.
Declining oscillators.
Support tests underway.
If $99.6K fails, eyes shift to $93.3K, and below that, $86.5K–$71.9K as potential zones.
....
🔻 Primary Trade Setup (Bearish)
⚙️ Type: Short Position
⏰ Timeframe: Daily
📉 Strategy: Trendline break and momentum continuation
Entry:
Below $99,500 (confirmation of trendline breakdown & continuation)
Targets:
1. Target 1: $93,363 — Previous support level
2. Target 2: $86,500 — Next horizontal support
3. Target 3: $71,949 — Major 0.786 Fibonacci level (high confluence)
Stop-Loss:
Above $100,600 (to avoid fakeout wicks)
Or tighter: $100,150 (for smaller R:R)
Risk-to-Reward (R:R):
Entry: ~$99,500
SL: ~$100,600 → ~1.1% risk
TP1: ~$93,300 → ~6.2% reward
R:R ≈ 5.6:1 (to TP1) — solid risk profile
🔄 Alternate Plan (Bullish Reversal Setup)
⚙️ Type: Long Position (Only IF price reclaims broken levels)
If BTC reclaims $100,600 and closes above $104,616, trend could resume up.
Entry:
Break and daily close above $104,616
Targets:
1. $110,616 — recent resistance
2. $112,000 — psychological + historical zone
Stop-Loss:
Below $100,600
Invalidates upward breakout
📊 Indicators to Watch:
VWAP: Still pointing down (bearish bias)
Money Flow Index: Still in red (risk-off)
Stochastic RSI: Resetting near bottom — could support bounce later
Much love and appreciation,
– chevs710
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