From TradingView · · 40s
BTCUSD Bearish Setup: Rejection Zone and Invalidation
Bitcoin price rejection zone signals potential bearish move for BITSTAMP:BTCUSD.
In brief
Bitcoin price rejection zone signals potential bearish move for BITSTAMP:BTCUSD. Bitcoin price rejection at 83102-84119 zone could trigger bearish trend with targets at 78414, 77058, and 74968. Originally reported by TradingView.
Bearish Setup
A conditional bearish scenario would be considered if BITSTAMP:BTCUSD returns to the 83102-84119 zone and shows rejection.
Evidence for Rejection
The zone is the largest volume profile shelf covering 20% of the profile and aligns with visible chart extremes.
Downside Targets
If rejection is confirmed, the downside reference points are 78414, 77058, and 74968 with support levels.
Invalidation Point
A move to 84665 ends the bearish thesis as it is beyond the further boundary of the zone.
At a glance
Bitcoin price rejection at 83102-84119 zone could trigger bearish trend with targets at 78414, 77058, and 74968.
