BTCUSD Key Supply Zone Rejection – Bearish Target Mapped Bitcoin / U.S. dollarBITSTAMP:BTCUSDMentor_Michael03BTCUSD Key Supply Zone Rejection – Bearish Target Mapped (Educational Breakdown) ⸻ 🧠 Technical Analysis (1H Chart): •Range Structure: BTCUSD is currently trading within a well-defined consolidation range between the Resistance Zone ($119,850–$120,591) and the Support Zone ($116,937). •Volume Profile (VRVP): Volume is noticeably thick near the mid-range, suggesting accumulation/distribution behavior. Price is struggling to break above the value area high near $120K. •Resistance Rejection: After testing the upper supply zone, price failed to sustain bullish momentum and is showing signs of exhaustion – a possible sign of institutional selling. •Target Zone: If price rejects this resistance again, a strong move toward the target level of $117,260 is expected. This aligns with: •Mid-range liquidity sweep •Low-volume node (LVN) below current price •Fair Value Gap fill near $117,200–$116,900 ⸻ 🧩 Key Concepts Highlighted: •Support & Resistance Mapping •Volume Profile Readings •Institutional Order Flow Bias •Target Projection using Smart Money Concepts ⸻ ⚠ Educational Insight: This setup is a perfect example of how to combine Volume Profile + Price Action to identify liquidity traps and smart entries. Always wait for confirmation near key zones — not every level breaks! ⸻ ✅ Trade Plan (Not Financial Advice): •Watch for bearish engulfing/rejection wick at resistance •Short entry below $119,000 with SL above $120,600 •Target: $117,260 / Final TP: $116,937 zone