🚨 $BTC is facing critical dual resistance:
1. Trendline Resistance at $109,500–$109,800
2. Horizontal Resistance at $110,400–$110,500
Plus, a rising wedge is forming — a pattern that often signals a reversal. BTC retraced from that zone and confirmed rejection today. The $109,700 level acted as a breakdown/retracement zone.
Don't panic, but RSI is currently below 60%. If BTC breaks to the upside, RSI could jump to 70–75, indicating an overbought condition.
I'm seeing a possibility of a short-term correction towards the $105,000–$106,000 zone.
However, if BTC breaks out, it would invalidate the bearish pattern. For that, we need a breakout above $110,500 and at least 4-hour candles closing above this region.
I'm repeating — to avoid a fakeout, it's best to wait for the daily candle close, but for upside confirmation, a minimum 4-hour close above the resistance is necessary.
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