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BTCUSDT Slides Below Key Support Near $90K
Traders' Opinions
Cryptocurrency
Summary:
BTCUSDT (Bitcoin vs Tether) is trading under pressure around the $86,900–$87,600 range as volatility remains elevated and risk sentiment deteriorates. Today’s price action reflects continued ETF outflows and technical rejection from intermediate resistance,...
Sell
CLOSEDBTC-USDT
End Time
90000.0
Entry Price
86400.0
TP
91000.0
SL
88883.0 +811.9 +0.92%
36000
Points
Profit
86400.0
TP
86400.0
CLOSING
90000.0
Entry Price
91000.0
SL
Market overview
As of the latest data, Bitcoin is trading near $90000 USDT, with short-term price action showing a failure to sustain a reclaim above the round-number resistance around $88,000.
On an M15 chart, this translates into lower highs being formed below the recent intraday bounce zone and a series of close-below pivot reactions rather than clean continuation upward. That price structure hints at supply dominance near intraday resistances, aligning with a broader market backdrop where flows remain cautious and short-term sellers are more active than buyers.
Market sentiment
Sentiment in the BTC market is tilted toward “extreme fear” as indicated by sentiment gauges and trade flows. A low Fear & Greed index reading reflects panic selling and traders stepping aside rather than chasing spikes.
Additionally, spot Bitcoin ETFs have registered continued outflows, signaling that institutional demand is not just dormant but net negative on consecutive sessions, which often precedes deeper corrective moves as liquidity drains from the market.
These sentiment signals make rebound rallies vulnerable to aggressive selling, especially on shorter timeframes like M15 where market participants react quickly to every failed attempt at reclaiming resistance.
Technical analysis
Price remains below or near the mid-band after repeated tests of the upper band failed to produce strong continuation. On M15, this is bearish structure — with bands not expanding upward and candles closing below the mid-line, sellers are likely to remain in control. Repeated rejections at the mid and upper band without follow-through often foreshadow volatility contraction to the downside.
Ichimoku (9,26,52): Weak M15 momentum is evident where price action struggles to stay above the Ichimoku cloud after a brief bounce. If BTC cannot hold above the cloud and the conversion line (Tenkan) remains below the base line (Kijun), this signals bearish continuation pressure.
Stoch (5,3,3): Stochastic oscillators on M15 are prone to move from oversold toward mid-range and then roll over again — a behavior typical during corrections within a downtrend. A fresh downward crossing from the mid zone reinforces short-term selling pressure.
Trade plan
Entry: 90000 if price shows clear M15 rejection (long wick or bearish engulfing candle) below the recent intraday resistance and fails to close above the mid-Bollinger band.
Take Profit: 88000
Stop Loss: 91000
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