Bitcoin (BTC/USDT) – Bearish Continuation After Failed Support !Bitcoin attempted to hold the $101,409 support level but failed to sustain above it. The breakdown confirms weakness, and the chart now suggests a continuation of the downtrend if bulls don’t reclaim lost ground quickly.
Technical Breakdown:
Failed Bounce: BTC briefly bounced near $101.4K but got rejected and closed back below the zone.
Bearish Structure: Price continues forming lower highs and lower lows — a clear downtrend.
RSI at 30.34: Close to oversold but still room to fall, which means downside isn’t exhausted yet.
Market Sentiment: Weak hands are exiting, and support zones are getting tested faster than they’re defended.
Key Levels to Watch:
Resistance:
$101,409 – Immediate level, now flipped to resistance
$103,573 – Strong barrier if bulls attempt recovery
$105,807 – Major horizontal resistance and lower high zone
Support:
$97,340 – Next major support zone (possible short-term bounce)
$93,343 – Key level if $97.3K fails to hold
$92,200 – Final support before panic could set in
Trade Idea – Bearish Bias:
Short on Retest Zone: $101.4K – $102K
Stoploss: Above $103.6K
Take-Profit Targets:
TP1: $97,300
TP2: $93,300
TP3: Optional – trail lower if breakdown continues
What Bulls Need to Do:
Reclaim $101.4K fast with a strong close above it on the 4H chart
Otherwise, sellers remain in control
This is not financial advice. Always do your own research (DYOR) and manage your risk accordingly.
