📉 Bitcoin Tests Central Reversal Zone – What’s Next?
recently dropped back toward the $115,500–116,000 support zone, also labeled as the Central Reversal Zone on this chart. After a sharp sell-off from the recent highs, BTC is now at a crucial technical level.
🔍 Chart Insights:
A strong downtrend line has formed since the rejection near $121,000.
BTC recently made a minor CHoCH (Change of Character) but failed to hold it.
Now price action is reacting inside a major reversal zone, indicating a possible bounce or further breakdown.
📌 Key Levels:
Support: $115,500 (watch for bullish reversal)
Resistance: $118,000 (minor CHoCH) & $121,000 (major CHoCH)
Break of the trendline could signal a shift in momentum.
📊 Traders are closely watching this level for potential long entries or bearish continuation.
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