📉 Bitcoin Faces Bearish Pressure: Resistance Rejection Signals Downtrend
$BTC /USDT
Spot: $113,600.82 (-1.7%)
Perp: $113,561.30 (-1.7%)
🔍 Market Overview
Bitcoin has tested the $118,000–$120,000 resistance zone multiple times and failed to break through, signaling heavy selling pressure.
Technical analyst Metral_Trade notes that the chart is showing a bearish structure:
Lower highs & lower lows
Sharp impulsive drops
Weak corrective rallies
👉 A textbook setup for continued downside momentum.
📊 Trade Setup
Entry Zone: Just below resistance ($118K–$120K)
Profit Targets: $104,000–$106,000
Stop-Loss: Above $120,000 to guard against false breakouts
The pattern suggests a distribution phase, where sellers remain in control unless bulls manage a decisive breakout above $120,000 with strong volume.
🧭 Strategy Outlook
Bias: Bearish
Approach: Short near resistance, target liquidity zones lower
Risk Management: Tight stops above resistance
Unless a major reversal emerges, bears look ready to steer the market lower in the near term.