The BTC rate has transitioned into a stable downtrend on the 12-hour timeframe, with basic targets of $114,629, $112,678, $110,726.

Given, we remind you, the unaddressed targets of the downtrend still on two timeframes:

- 6-hour timeframe: $113,657,

- 8-hour timeframe: $113,971 and $112,380.

This signal adds arguments for a decline. According to our main indicator, the area of $110,000-$111,000 does not seem far-fetched. According to our horizontal support levels indicator, which should be noted: $114,330, $113,579, $112,827. If the last level is broken, we may see a rapid price delivery straight to $111,074, and if that is broken, to the range of $108,820-$109,571.

In the current situation, the idea of going long around the current prices becomes riskier. But the nuance is that there is really another pronounced turning point on the chart right now. And considering the previous review, we would not dismiss the possibility that from today’s reversal signals, the price is capable of reaching a new ATH.

Currently, this upward reversal scenario seems less likely than a move lower and the removal of liquidity below the low of August 3. But we will be ready to try to trade it, optimally with a stop at breakeven as it rises. Moreover, if the price starts to show expressive reversal signals, we will be ready to enter a new short position.

However, we should not dismiss the possibility of an upward reversal. After all, we have three strong signals of a potential low on the hourly timeframe, three regular markers of a potential low on the 2-hour timeframe, and already two regular markers on the 3-hour timeframe. If a stable uptrend is maintained on the daily timeframe, there is a likelihood of all these markers being addressed with a significant rise.

Ultimately, as seen in the last screenshot, the three latest downtrends on the 12-hour timeframe did not fully achieve their targets. The last one did not achieve any targets at all and turned out to be false.

The plans remain the same - we are waiting for a signal of a stable uptrend on the 15-minute timeframe and will make a decision.