Bitcoin Breaks Down from Resistance – Support Test Begins, Is a Bigger Drop Coming?
Bitcoin has faced strong rejection from the $110,500–$111,000 supply zone and is now trading lower, around $108,380. Price is approaching the ascending channel support and the 21MA, both of which converge near this level — making it a critical support area.
Scenarios to Watch:
🟢 Bullish Case:
If BTC holds above $108,000–$108,500, we may see a bounce back toward the $110,000 zone. A breakout above $111K is needed to confirm bullish continuation.
🔴 Bearish Case:
A confirmed break below the channel and 21MA could trigger a deeper correction toward $106,000 or even $103,600.
📌 Key Levels to Watch:
✅ Resistance:
$110,500–$111,000 (Major rejection zone)
$112,000 (Channel top)
$113,200 (Next resistance)
✅ Support:
$108,000–$108,500 (Channel & 21MA confluence)
$106,000 (Mid-range support)
$103,600 (Horizontal demand zone)
Conclusion:
$BTC is now testing a make-or-break support zone. Losing this level could invite sellers and increase bearish pressure. Watch closely for the next 4H close for confirmation.
