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Bitcoin is showing signs of rejection from the top of the descending channel near the 109k region. With selling pressure increasing and price struggling to break higher, there’s a strong probability of a downward move. If support around 106k fails, BTC could revisit previous lows and potentially head toward the sub-1M zone ("Azad"). Caution is advised as the market may be preparing for another bearish wave.
Bitcoin is showing signs of rejection from the top of the descending channel near the 109k region. With selling pressure increasing and price struggling to break higher, there’s a strong probability of a downward move. If support around 106k fails, BTC could revisit previous lows and potentially head toward the sub-1M zone ("Azad"). Caution is advised as the market may be preparing for another bearish wave.
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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.