$BTC /USDT: Bearish Momentum - Brace for a Potential Drop
$BTC is currently trading at $94,518, reflecting sustained bearish momentum as the price retraces from its recent high of $97,544. With the RSI dipping to 26.47, oversold conditions are evident, but the lack of a strong recovery suggests continued downward pressure. Immediate support is seen at $94,011, and failure to hold this level could drive the price lower.
Trade Setup:
Entry for Short: $94,500
Target 1: $94,200
Target 2: $93,900
Target 3: $93,600
Stop-Loss: $94,800
Watch the volume closely for confirmation of continued selling pressure. This bearish momentum could accelerate if the support zone fails, opening the door for further downside. Adjust your risk accordingly.