Bitcoin ($BTC) has shown early signs of weakness after a significant pullback near the critical supply zone around $110,000. As the price trend begins to form lower highs, the market structure is changing, which is a typical precursor to a deeper pullback. As of now, BTC is trading at approximately $104,739, and bearish momentum is quietly strengthening. The short-term risk of a pullback near the resistance zone of $109,000-$110,000 has been confirmed by a weakening bullish volume and slowing momentum. With no immediate bullish catalysts in sight and macroeconomic uncertainty still present, Bitcoin may be heading toward a deeper pullback phase. If the current selling pressure persists, all eyes will turn to the first major support level at $94,444—this was a previous breakout area that played a crucial role in early Q2. This level is strategically significant and is expected to be tested in the coming days. What if it breaks below $94,000? Future potential scenarios: A decisive break and close below $94,000, especially confirmed by high volume and bearish candlestick structures (such as a strong engulfing candle), could open the door for a deeper pullback targeting the $76,318 area. This level is not random: it aligns with high volume nodes on the visible range curve. This level can act as an accumulation zone from March to April, where institutional interest was previously observed. This area coincides with long-standing demand congestion, enhancing its credibility as a potential rebound zone. In short, $76,318 is a high-probability demand area—not just a technical support level, but also a convergence zone for multiple key indicators. Technical overview: Resistance level: $109,000 - $110,000 (major supply zone, confirmed rejection) Support level 1: $94,444 (previous breakout level, likely to be retested) Support level 2: $76,318 (demand block + consolidation base + range low support) Structure: formation of lower highs; early signs of trend reversal Momentum: potential bearish divergence (RSI weakening and MACD flattening suggest) Next to watch is the reaction at $94,000: this is the first key test. Pay attention to strong volume as it approaches. If bulls hold, a short-term bounce may occur. Volume confirmation: Increased selling volume coupled with bearish engulfing or breakout candles may signal short-term opportunities. $76,000 scenario: If $94,000 fails, the $76,000 area will provide the most technically reasonable long entry zone, especially if the convergence zone remains intact. Bullish recovery?: Bulls must reclaim the $110,000 mark strongly to reverse the current bearish bias and restore upward momentum. Conclusion: Bitcoin recently fell below the $110,000 mark, indicating that bulls need to be cautious. Unless the price can reclaim this level soon, the likelihood of testing $94,000 seems to be increasing—if it breaks below this level, BTC may drop toward the $76,000 demand area, where stronger defense may emerge.
