📉 BTC Crisis of Faith: Is the $64K Floor Next? 🚨
The $70,000 psychological support has officially snapped. As global risk-off sentiment sweeps through tech stocks and ETFs bleed over $800M in two days, Bitcoin ($BTC) is entering a high-volatility "Capitulation Phase".
I am looking to capitalize on this breakdown. Here is my high-conviction SHORT setup:
⚡ The Strategy:
Bias: Bearish 🔴
Leverage: 10x (Advanced Traders Only)
Risk: Max 5% of your portfolio. Do not over-leverage in this "Crisis of Faith" volatility!
📥 Entry Zone: * $69,283 – $70,000 (Wait for a retest of the broken $70k support—now resistance)
🎯 Profit Targets:
TP1: $68,389 (200-Week EMA Support)
TP2: $67,079 (Major Demand Zone)
TP3: $65,913 (Liquidity Gap)
TP4: $64,532 (The ultimate capitulation floor)
🛑 Stop Loss: * $70,911 (Invalidation if we reclaim the $71k consolidation range)
Why I'm Shorting: The Coinbase Premium Gap is at a 12-month low, signaling that institutional demand has vanished. We are likely heading to the 200-Week EMA at $68k before any real bounce occurs.
What’s your bottom target? Are we bouncing at $68k, or is the cycle truly over? Drop your prediction below! 👇
