🟥 $BTC Update - Bearish Correction on the Radar? 🟥
Caution for longs here.
While the weekly uptrend remains intact, we’re now seeing signs of an incoming bearish correction on the higher timeframes. 📉
The last H4 close paints a bearish picture, momentum suggests there’s potential for a downside breakout from this range.
Key lower supports: Watch $114,000, $112,900, and the major confluence around $110,600 - $110,000. Macro uptrend lines could also act as strong support IF tested!
Weekly trend is still bullish structurally, but we are highly overextended after this run. A correction phase, be it sideways or slow bleed, would be healthy and actually pretty expected at this point. 📈
Upside resistance zones: If bulls bounce, keep an eye on $117,300, $118,250, $120,200, and $122,500 for possible rejection or consolidation.
My approach:
I remain medium/long term bullish above $110,000 (weekly close), but this is a tricky zone, patience is key. Volume is huge on both side! ⚠️
Play it level by level, don’t FOMO into weak bounces!
⚠️ Alts remark:
#Alts are sitting on their own key supports, but it’s probably wise to wait for $BTC to test those lower levels before expecting a sustained alt run. Greener days likely come after true capitulation and BTC support confirmation.
Takeaway:
Market’s in decision mode, don’t get caught chasing moves. As long as $BTC holds $111,000 on weekly closes, there’s no need to panic. Sticking to the plan and removing emotion is how you win here!
Chart breakdown:
🔸Clear support/resistance levels and possible bounce/rejection scenarios.
🔸Overextension confirmed by Ichimoku and price structure.
🔸Key trendline and range levels mapped for easy tracking.
#DYOR | Not financial advice, just sharing my outlook.
