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Bitcoin is trading under significant selling pressure, with price action forming lower highs and lower lows inside a descending channel. The EMA ribbon is bearish, confirming that sellers remain in control. The recent sharp drop indicates continued downside risk.
🔴 Resistance Zone: 80,600 – 81,000
🔴 Stop Loss Level: 81,433
🎯 Target Zone: 76,770
📉 Major Support: 79,160
Trading Outlook: SELLING BIAS
If price makes a pullback toward resistance and faces rejection, further downside may follow toward the target zone. A sustained move above resistance could weaken the bearish setup.
⚠️ Risk Management: Wait for confirmation before entering a trade. Always manage risk carefully.
