🪙💡How deep will Bitcoin fall? Or are we seeing a rebound?

I was able to close my short trade at 95500 with a profit. What happens next?
The current chart shows a rebound from the previous low at $95,500, but the movement remains below the important resistance at $96,200. Here is my analysis:

1. Resistance at 96,200 USD:

This zone is confirmed by several technical indicators (Supertrend, VPVR volume profile).

If this area is not overcome, the downward momentum remains intact.

2. MACD & RSI:

Although the MACD shows a flattening of negative momentum, there is no clear bullish trend reversal yet.

The RSI is at 30, indicating a possible oversold condition, but a rebound could be limited.

3. Support:

Short-term support is at $95,000. A break below it could further lead the price towards $94,000 or lower.

Recommendations:

Short Trade: If the price falls below $95,200 again, this could be a entry signal. Stop loss just above $96,200.

Long-Trade: Only makes sense if 96,200 USD is broken with volume. Stop-Loss at 95,500 USD, target at 97,200–98,200 USD.

The market is currently more sideways-downward. It might be wise to wait for a clearer movement.

The liquidation map shows clear clusters near my entry price (95200), with larger liquidation zones at 95132 and 94996. These zones could serve as short-term support if the price falls there, and also as potential turning points for the market.

Interpretation:

1. Liquidation zones at 95200 and 95064:

Many leveraged long positions could be triggered here, which could temporarily exacerbate the downtrend.

The take-profit at 94300 seems realistic, as only weaker liquidation areas are visible below it.

2. Above 96000:

Above this level, there are multiple clusters indicating long liquidations at 96356 and 96492. These areas could act as resistance and favor your short trade if the price rebounds there.

3. Strategy:

Stop-loss: is located just above the liquidation point at 95948. This makes sense because a breakthrough above it could trigger further buying pressure.

Take-Profit: 94300 is below the strong liquidation areas and could provide a good hedge for your profits.

This is not financial advice.
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