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LeftEarZz

‍#BTC The downward channel continues to gain momentum



At the moment, it can only be considered a pullback within a bullish trend. Here, the risk-reward ratio for shorting is very high

There are many small supports in the next phase, because Bitcoin also doesn’t rise smoothly in a straight line. The resistance levels formed during the upside that are broken will turn into support levels after the breakout, and they will provide resistance during the down move.

If it rises further, it would need to form a double top around 67. 67 is already the extreme level
BTC-1.71%
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LeftEarZz
#BTC The daily chart has formed a downward channel.

There is a clear resistance level above. If it hasn’t broken through the upper rail with a body K-line like it did last night, then remain bearish.

First, look at the mid-band around 61,000.
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DeepDive
· 7h ago
The shorting profit-to-loss ratio is high, but be careful of a head-and-shoulders bottom.
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DigitalMigrant
· 7h ago
This analysis approach is very clear, and the logic for shorting on a pullback holds, but you should note that BTC often doesn’t follow the rules—suddenly it can rally and blow up shorts. So keep your position size light, and use a stop-loss for a safer approach.
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LensPostman
· 7h ago
Once the double top at 67 forms, the pullback could be substantial—consider shorting.
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GliderPilot
· 7h ago
Actually, these support levels were previously resistance levels. Once broken, they become support—but the more supports there are, the less likely it is to break through and drop below in a single move. Consider taking profits in batches.
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InterestCatcher
· 9h ago
Double-top expectation; short positions remain held.
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