🔥📈 BTC Battles Resistance – Can Bulls Reclaim the Channel? 🧠🚪
Bitcoin is now knocking on the door of the broken channel support — what was once a floor is now acting as resistance. For bulls to regain momentum, price must reclaim and close back inside the channel, ideally above 118.6K.
📍 Key Structural Notes:
We've already broken below the internal channel — this is no longer a confirmed uptrend.
Current resistance is the same trendline that previously acted as support — classic technical flip.
Failing here keeps BTC vulnerable for a deeper move toward the Main Support at 114.9K, where the real test lies.
📊 Order Flow Context:
Funding remains mildly positive, showing no panic from longs.
Premium is near-zero — market isn't chasing.
OI is steady, showing neutral positioning but potential for sudden volatility.
Spot volume picked up during the recent move, but not strong enough to confirm a breakout… yet.
🧩 Scenarios:
✅ Breaks back above 118.6K with volume → Targets: 122.4K, 126.7K, 128.7K (channel continuation).
❌ Rejection at resistance → Eyes on 114.9K. Losing that, and we enter danger territory toward 106K.
We’re at a decision point — and these are the moments that shape the next leg.
One Love,
The FXPROFESSOR 💙
Disclosure: I am happy to be part of the Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis. Awesome broker, where the trader really comes first! 🌟🤝📈
Bitcoin is now knocking on the door of the broken channel support — what was once a floor is now acting as resistance. For bulls to regain momentum, price must reclaim and close back inside the channel, ideally above 118.6K.
📍 Key Structural Notes:
We've already broken below the internal channel — this is no longer a confirmed uptrend.
Current resistance is the same trendline that previously acted as support — classic technical flip.
Failing here keeps BTC vulnerable for a deeper move toward the Main Support at 114.9K, where the real test lies.
📊 Order Flow Context:
Funding remains mildly positive, showing no panic from longs.
Premium is near-zero — market isn't chasing.
OI is steady, showing neutral positioning but potential for sudden volatility.
Spot volume picked up during the recent move, but not strong enough to confirm a breakout… yet.
🧩 Scenarios:
✅ Breaks back above 118.6K with volume → Targets: 122.4K, 126.7K, 128.7K (channel continuation).
❌ Rejection at resistance → Eyes on 114.9K. Losing that, and we enter danger territory toward 106K.
We’re at a decision point — and these are the moments that shape the next leg.
One Love,
The FXPROFESSOR 💙
Disclosure: I am happy to be part of the Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis. Awesome broker, where the trader really comes first! 🌟🤝📈
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📣 Telegram: t.me/fxprofessor88
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.