$BTC /USDT – Critical Demand Zone Under Threat Amid Weak Global Sentiment! 🧨
🕒 Timeframes: 1H & 1D
💰 Current Price: $103,596
📉 24h Drop: –0.37%
📊 RSI Levels:
• 1H RSI: 31.89 (Oversold zone)
• 1D RSI: 49.06 (Neutral to Bearish)
📉 Chart Analysis Overview:
🔹 1-Hour Timeframe:
Multiple BOS confirms local bearish control. Each small bounce is sold into quickly.
Rejection from the EMA cloud shows no real bullish strength to reclaim momentum.
RSI is hovering below 32, but no visible bullish divergence = risk of more downside remains.
🔹 1-Day Timeframe:
BTC is hanging on the last demand zone between $103K–$104K. If this level breaks with volume, sharp selling could push price to $100K–$99K area.
Trendline support from previous bullish legs has been breached.
No significant buyer absorption yet in this zone, suggesting caution for bulls.
🌐 Global Sentiment & News Impact:
🗞️ Macro Sentiment:
US Fed policymakers remain hawkish. Rate cut expectations are being delayed till late 2024, which is bearish for risk-on assets like Bitcoin.
🚨 Key News Events:
Mt. Gox repayments timeline is again in headlines, adding pressure on BTC due to potential supply unlocks.
Binance regulatory concerns in some regions (e.g., Europe) are shaking investor confidence temporarily.
💡 Strategy Outlook:
🧭 Short-Term View:
Bears in control. Best strategy is “Sell the Rejection” near $104,800–$105,800 until price reclaims that zone.
Avoid early long positions until bullish CHoCH with volume appears.
🧭 Swing Trade View:
Watch for Daily candle close below $103,000 – this can trigger a move toward $101K or even $99K support levels.
Only bullish if we reclaim $106K with structure change + RSI recovery.
🎯 Key Levels To Watch:
Immediate Support: $103,000 → $100,500 → $99,000
Strong Resistance: $105,800 → $107,000
Liquidity Danger Zone: Close below $103K on daily = possible liquidation cascade
