$BTC formed a sharp V-shaped reversal near $123,000, signaling a loss of upward momentum.
The price retested and was rejected at the bearish 4H Fair Value Gap between $119K and $120.5K. Subsequently, market structure broke below $117K, confirming a bearish shift.
Now, BTC is moving into a CME gap, a price zone it usually revisits.
The next support is near $111K, which could be a good area for buyers to step back in.
