📉 $BTC slips below 116K again! Are we approaching a deeper correction? 🔥💥
Current price: 115,266.58 (-2.5%)
BTCUSDT (perpetual): 115,231 (-2.48%)
After a strong rejection from the 123 thousand dollar level last week, Bitcoin entered a new downward wave, breaking the 116K support and abandoning the 50-day moving average.
The long upper wick left by the rejection indicates clear buying exhaustion, and with increasing volume, it seems that sellers are taking control.
🧭 The critical level now: 112K
- It was strong resistance in July and may turn into support upon re-testing.
- Breaking it may open the door for a drop towards 100K, which is a historical support area and a long-term trend line.
📊 Worrisome technical signals:
- RSI is declining despite previous price increases → bearish divergence.
- Momentum is weakening → possibility of continued correction.
- The overall structure is still bullish, but losing 112K will change the equation.
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