On the chart #BTC🔥🔥🔥🔥🔥 , there was indeed a breakout of the lower boundary of the ascending channel (marked with a red circle). This is an important signal:
The price, after peaking at $124,545, fell below the support line and is consolidating around $115,500.
The RSI has dropped to 46, indicating a decrease in buyer momentum; the market is leaning more towards a neutral-bearish scenario.
The MACD is in the negative zone, confirming the weakness of the bulls.
📉 Conclusion: a breakout of the ascending trend often signals the beginning of a correction or reversal. If we consolidate below $115,000, we may see further declines into the $112,000 - $108,000 range.
📈 However, if we quickly return to the channel and consolidate above $117,000, it will be a false breakout.
👉 The market is currently at a turning point, and it is important to monitor the levels of $115,000 and $117,000.