Bitcoin Bears Strike! Key Short Entry with Multiple Targets Set!

25 Okt

BITCOIN (BTCUSDT) 15m Timeframe Technical Analysis:

In the 15-minute timeframe, Bitcoin (BTCUSDT) has offered a short trade entry at $67,607.9, following a breakdown below the Risological dotted trendline. This signals a potential downside, with multiple targets charted below for this trade.

Key Levels:

• Entry: $67,607.9
  
• Stop Loss (SL): $68,227.5
  
• Trailing Stop: $67,676
  
• Target 1 (TP1): $66,842 (First target)
  
• Target 2 (TP2): $65,602.6
  
• Target 3 (TP3): $64,363.3
  
• Target 4 (TP4): $63,597.4
  

Observations:

• The price broke below the Risological dotted trendline, indicating bearish momentum.
  
• Trailing stop at $67,676 is in place to secure profits as the price moves lower.
  

Bitcoin is poised for further downside, with multiple targets set. The strong rejection below the Risological dotted trendline supports the short bias, and traders should watch for price action around the targets for potential exits or extensions of the trade.