BTCUSD Bearish setup (1H)Bitcoin / U.S. dollarBITSTAMP:BTCUSDVisionaryInsightsPrice is currently consolidating after a strong impulsive move up, showing signs of exhaustion near the highs. The current structure suggests a potential short-term distribution before a possible move lower. 🔴 Bearish Confluences (Short Term) Price forming a range / mini distribution at the highs Lower highs developing within the consolidation Price losing momentum and slipping below the short-term MA band Rejection near the 38.2% retracement resistance (74,886) Structure starting to shift from impulsive to corrective As long as price remains below the local resistance, the setup favors a continuation move lower. 📉 Fibonacci Targets 38.2% – 73,016 first reaction zone 61.8% – 72,438 key support area 100% – 71,503 major downside target