Bitcoin Rejected at Resistance – Sideways Trap Now Likely⚠️🚫 Bitcoin Rejected at $111,592 – Smart Money Took Profits, Not FOMO 💰📉
We called it yesterday. I urgently posted about the $111,592 level — one of the most important resistance zones in this structure. And right on schedule… Bitcoin tagged it and got rejected.
📍 This isn’t just luck. It’s structure + timing + discipline.
🔄 While many were eyeing a breakout, we were preparing for the expected rejection — and we took profits after long entries from just under $100K (as shown). This wasn’t the time to FOMO. This was the time to cash in.
🔎 Key Points from Today’s Market View:
We’re still inside the ascending channel, but testing the upper end
Multiple divergences on the 2-day chart are still active (8 counted). Many more across big timeframes.
The third macro resistance test is inbound — watch the 'where can Bitcoin go post below'
Current outlook favors a sideways chop — the classic liquidation zone where longs and shorts alike get punished
We might still get the breakout to $114,900 — but if that happens, it’ll come after more pain, not from clean momentum.
🧠 Bigger Picture:
If you missed the major chart update, watch:
👉 Where Can Bitcoin Go? Part 8
And if you want today’s broader outlook (including ETH, BTC.D, NASDAQ), catch the July 10th video:
👉 July 10th Market Outlook – Uncharted Waters
🗣️ Final Word:
What we’re seeing is not a breakout. Not yet.
This is a trap zone.
Discipline > Emotion.
Structure > Hope.
Profits > FOMO.
Welcome to day trading.
💬 Peanut butter Street Talk:
Presidents are out here launching meme coins. The insiders already made their billions — and they’re calling it “peanuts.”
But we don’t want to be their peanut butter.
That’s what happens when we become the exit liquidity.
They dump while we FOMO. They wait while we panic.
So don’t feed the trap. Keep your edge sharp, your charts tighter, and your emotions in check.
I prefer to buy over 115k, over resistance or lower at support.
Not today,
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! 🌟🤝📈
