Bitcoin (BTC/USDT)Bitcoin / USDBINANCE:BTCUSDIbrahimTarekBitcoin (BTC/USDT) – Multi-Timeframe Bearish Setup from Rising Wedge Overview Bitcoin is currently trading inside a large rising wedge pattern on the daily timeframe, which is typically a bearish reversal structure. Price action has respected both the upper resistance and lower support trendlines multiple times, forming clear swing points (A → B → C → D → E). After a false breakout near the upper boundary, price failed to sustain bullish momentum and is now showing clear rejection, aligning with a developing downtrend on the 4H timeframe. Technical Breakdown 1. Daily Timeframe (Macro Structure) Formation: Rising Wedge (Bearish Bias) Multiple touches confirm validity of the pattern. Recent move: Fake breakout ("False Penetration") followed by rejection. This increases probability of a move toward the lower boundary. 2. 4H Timeframe (Trigger Confirmation) Price is forming a descending trendline. Breakdown from minor structure + rejection from wedge resistance. Momentum shifting bearish with lower highs forming. 3. 1H Timeframe (Entry Precision) Price breaks below local support / channel structure. Weak bullish attempts → confirms sellers are in control. Ideal for entry confirmation after retest or breakdown continuation. Trade Setup (Short Position) Entry Zone Sell Entry: 67,000 Stop Loss SL: 69,500 (Above recent high + wedge resistance for invalidation) Targets (Take Profit Levels) TP1: 64,800 TP2: 62,300 TP3: 59,556 TP4: 55,730 (extended target near wedge base) Risk Management Risk per trade: 1–2% max Risk/Reward Ratio: Highly favorable (1:3 → 1:6) Move stop to break-even after TP1 hit Key Confluences Rising wedge (daily bearish structure) False breakout (bull trap) 4H downtrend alignment 1H breakdown confirmation Rejection from dynamic resistance Scenario Outlook Bearish Scenario (Primary) If price remains below 69,500, expect continuation toward: → 64K → 62K → 59K → possibly 55K Invalidation Scenario A strong close above 69,500 invalidates the setup. Could lead to bullish continuation toward upper channel (75K–80K zone). Conclusion Bitcoin is showing a classic rising wedge breakdown setup, supported by multi-timeframe confluence and a failed breakout. This structure often leads to strong downside moves, especially when combined with lower timeframe confirmation.