šØ $BTC /USDT Market Update ā Bearish Pressure Emerges
#Bitcoin (#BTC ) is currently trading at $111,010 (ā¹31,481,360), showing a -1.34% decline. The 24-hour high reached $113,293, while the low dipped to $110,766, indicating intraday volatility. Trading volume remains strong at 14,712 BTC (ā1.65B USDT), signaling active market participation.
š Technical Analysis
BTC is facing short-term bearish pressure, breaking below recent support zones around $112,800 ā $112,300. The price sits near key support at $111,000, with moving averages suggesting potential consolidation before the next move. RSI is trending lower, hinting at increased selling momentum, while volume confirms that the bears are in control for now.
š Forecast
If BTC holds above $110,700, a rebound toward $112,800 ā $113,300 is possible, offering a short-term buying opportunity. A decisive break below $110,700 could trigger further downside, with next support around $109,500 ā $109,000. Traders should monitor 15m and 1h charts for confirmation of trend reversal before entering new positions.
Key Levels:
Support: $111,000 / $110,700 / $109,500
Resistance: $112,800 / $113,300 / $114,000