BTCUSDT is currently consolidating just below a key descending trendline, after multiple rejections near the 111,700 zone. Price action is tightening within a wedge-like structure, while still holding above the critical 106,500 support – a level that previously acted as a strong launchpad.
From a technical standpoint, this setup reflects a potential breakout pattern, where buyers are defending higher lows, and sellers are maintaining pressure near the trendline.
A breakout above the trendline could ignite a bullish rally toward 111,700 and beyond. However, continued rejection might lead to a retest of the 106,000 area before any bullish continuation is confirmed.
📌 Strategy: Wait for confirmation. A breakout above the trendline offers a safer entry for buyers, with stop-loss recommended just below the marked support zone.
