Bitcoin Technical Analysis Chart:
BTCUSDT is currently trading at the $22500 level and has undergone a retest at the same point where it was previously dumped after a breakdown. This indicates a big leg-down sign, yet many seem to be bullish , and there’s no talk of the $10k target.
As per my previous chart analysis, the trend is bearish , and there has been a breakdown, with BTCUSDT going down to $19600 (-12% from the breakdown). The breakdown level was at $22250, and the retest is also successful.
Therefore, the targets for BTCUSDT are $18364/$16438, and there may be further declines if the $16000 level is not held.
In terms of support levels, the key ones are $18400/$16500. I am bullish on BTCUSDT only if it breaks out above the white line resistance. However, if it remains below this resistance level , then my outlook remains bearish .
It is important to never open any trade without any confirmations and blindly. Always practice safe trading and stay safe.
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