BTCUSDT - Strong Downtrend?Bitcoin / TetherUSBINANCE:BTCUSDTRocky_trade_On the 8H chart of BTCUSDT, a clear descending channel is visible, with key support and resistance levels at 113,200 USD and 105,200 USD. After failing to break the resistance at 113,200 USD, BTCUSDT continued to decline and is now heading toward the support zone at 105,200 USD. Both the EMA (34) and EMA (89) indicators are showing a bearish signal, with EMA (34) below EMA (89), confirming strong selling pressure. News Impact: Recently, concerns about cryptocurrency regulations from major countries, especially the US, have caused BTCUSDT to drop sharply. Additionally, adjustments in global financial markets have also impacted investor sentiment, leading to a sell-off of Bitcoin. Trading Strategy: Given the current downtrend, traders may consider opening short positions as the price tests the 113,200 USD level again. The next target for the downtrend is the 105,200 USD support level. Place a stop loss if the price unexpectedly breaks above 113,200 USD.