$BTC

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The 15-minute chart reveals a significant bearish breakdown from the 75,969.8 resistance level, followed by a sharp capitulation wick down to a local low of 73,550.0. Price has since entered a consolidation phase, forming a descending triangle or bear flag pattern below the 75,000 psychological level. The current price of 74,634.1 is trading below all three key moving averages (MA5 at 74,869.3, MA10 at 74,963.2, and MA30 at 74,953.6), which are now acting as dynamic resistance. The MACD is hovering below the zero line with a slight bearish crossover, indicating that momentum remains weak despite the recent bounce.

The most recent price action shows a series of small-bodied red candles with upper wicks, indicating that sellers are rejecting higher prices near the 74,800 zone. There is no clear bullish reversal pattern (like a hammer or engulfing) at this current level, suggesting the market is still searching for a bottom.

I predict that BTC will continue to face downward pressure in the short term. If the price fails to reclaim the MA10 (74,963) and the 75,000 round number, I expect a retest of the recent low at 73,550. A break below that could open the door to 73,000. Conversely, a strong 15-minute close above 75,200 would invalidate this bearish bias.

🔴What Trade Plan I Follow and Why❓️

I am following a "Sell the Bounce" (Short) plan. Why? Because the trend is clearly bearish on this timeframe; the price is making lower highs and lower lows, and the moving averages are sloping down. The recent bounce off 73,550 looks corrective (a dead cat bounce) rather than a reversal, as volume is declining during the upward move.

🔴When I Start My Trade❓️

I will initiate a short position if the price retests the 74,800–74,950 zone (near the MA10/MA30) and shows rejection (e.g., a bearish pin bar or a red candle closing below the previous candle's low). I will place a tight stop-loss above 75,200 to protect against a sudden breakout.

Final Verdict: Bearish.

The market structure is broken, and the 15-minute trend remains downward. Unless we see a decisive breakout above 75,200 with volume, the path of least resistance is lower. Target the 73,550 support level for potential profit-taking.#BTCFlashCrash