The current price action of Bitcoin (BTC/USDT) shows a sustained bearish trend within a well-defined descending channel. Following a temporary bullish correction in the form of a rising channel, the price faced strong resistance around the $107,000–$110,500 supply zone and is now showing signs of a bearish breakout.
📉 Key Technical Observations:
A clear rejection from the upper resistance zone has led to a breakdown below the rising correction channel.
Immediate support zones are identified around $99,600 (TP1) and $94,300 (TP2), where price may potentially stabilize or bounce.
The bearish momentum remains dominant unless a strong reversal above $107,000 occurs.
📌 Scenarios to Watch:
Bearish Scenario: Price could continue falling toward TP1 and possibly TP2 if momentum holds and no strong reversal signals appear.
Bullish Reversal Scenario: A bounce from support levels with higher lows and a break above $107,000 could signal the beginning of a new bullish phase.
🔔 Disclaimer:
This analysis is intended for educational and informational purposes only. It is not financial advice. Please conduct your own research and risk assessment before making any trading decisions.
📉 Key Technical Observations:
A clear rejection from the upper resistance zone has led to a breakdown below the rising correction channel.
Immediate support zones are identified around $99,600 (TP1) and $94,300 (TP2), where price may potentially stabilize or bounce.
The bearish momentum remains dominant unless a strong reversal above $107,000 occurs.
📌 Scenarios to Watch:
Bearish Scenario: Price could continue falling toward TP1 and possibly TP2 if momentum holds and no strong reversal signals appear.
Bullish Reversal Scenario: A bounce from support levels with higher lows and a break above $107,000 could signal the beginning of a new bullish phase.
🔔 Disclaimer:
This analysis is intended for educational and informational purposes only. It is not financial advice. Please conduct your own research and risk assessment before making any trading decisions.
Trade closed: target reached
TP!
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.
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.