Bitcoin is currently trading near a critical support level, and price action is setting up for a decisive move.
📉 Bearish Scenario (Primary Bias):
Key support at ~$117,800 has broken, signaling a shift in market sentiment.
If the breakdown holds, we could see a strong bearish continuation toward the demand zone around $111,000.
Price may retest the broken support before the next leg down.
📈 Bullish Scenario (Alternate):
If buyers regain control and reclaim the broken support, BTC could retest the strong high at $120,700, and possibly push toward the supply zone near $123,000.
🔎 Structure Highlights:
Supply Zone: $122,000 – $123,000
Demand Zone: $110,000 – $111,500
Key Resistance/Support: $117,800
Strong High: ~$120,700
📌 Watch Closely:
📉 Bearish Scenario (Primary Bias):
Key support at ~$117,800 has broken, signaling a shift in market sentiment.
If the breakdown holds, we could see a strong bearish continuation toward the demand zone around $111,000.
Price may retest the broken support before the next leg down.
📈 Bullish Scenario (Alternate):
If buyers regain control and reclaim the broken support, BTC could retest the strong high at $120,700, and possibly push toward the supply zone near $123,000.
🔎 Structure Highlights:
Supply Zone: $122,000 – $123,000
Demand Zone: $110,000 – $111,500
Key Resistance/Support: $117,800
Strong High: ~$120,700
📌 Watch Closely:
- Price behavior on the retest of the broken support
- Bearish confirmation for downside continuation
- Bullish reclaim for short-term recovery
- A decisive move is near – be ready for both scenarios with tight risk management!
Trade active
Trade Active: Watching Key Levels!Two scenarios in play:
🔼 If BTC breaks the Key Support Breakout level, expect a retest of the Strong High and possibly the Supply Zone.
🔽 If price fails to hold above support, a drop toward the Demand Zone is likely.
Stay alert — both bullish and bearish setups are valid based on market reaction!
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📈 For More Setups & Updates —
🚀 Join our Telegram Channel!
👉 t.me/+vWVmX9cov69kNTU1
Step Into the Winners' Circle — Join Our VIP Signals Group Now!
t.me/+nnIo1DeoMLE5NjY0
🚀 Join our Telegram Channel!
👉 t.me/+vWVmX9cov69kNTU1
Step Into the Winners' Circle — Join Our VIP Signals Group Now!
t.me/+nnIo1DeoMLE5NjY0
Related publications
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.