๐จ Bitcoin Breakdown Imminent? Hereโs What to Expect! โ ๏ธ๐ฅ
Bitcoin is currently trading at $116,894, showing early signs of weakness after failing to hold momentum above the $120K zone. ๐
With a -0.43% drop already, the charts suggest a possible pullback or dump incoming soon. Hereโs why:
๐ป Key Resistance Rejected:
Price faced rejection near the $122,043 resistance zone and is now consolidating below that level.
โ ๏ธ Support to Watch:
Immediate Support: $115,074
Crucial Zone: $113,480 โ a break below this level could trigger a sharper dump.
Deeper Supports: $108,036 and $105,016 are in focus if the selling pressure continues.
๐ Volume also shows signs of distribution, indicating potential profit-taking by whales.
๐ RSI & Momentum indicators are cooling off, hinting at bearish divergence on the daily timeframe.
๐ฎ Next Possible Move?
If BTC fails to bounce from $113K, we could see a quick drop towards $108K or even $105K in the short term. Bulls need to reclaim $120K+ quickly to invalidate this bearish outlook.
Stay sharp, manage your risk, and donโt get caught in the fake pumps! ๐ง ๐ก๏ธ