🔥 Bitcoin in Trouble — Sellers Take Control
Bitcoin continues to show weakness as sellers dominate the market.
BTC dropped back below $116,500 and is now trading under $115,500 and the 100-hour SMA.
On the hourly BTC/USD chart, a bearish trendline has formed with resistance near $115,400.
The pair risks further losses unless bulls reclaim the $115,500 barrier.
Key Market Structure
BTC is consolidating below the 23.6% Fib retracement of the $124,420 → $112,610 decline.
Immediate resistance sits at $114,200, with stronger hurdles at $115,000 and $115,500.
A decisive break above $115,500 could open the door for a move toward $118,500 (50% Fib level).
Above that, momentum could carry BTC toward $120,000 – $121,500.
Bearish Case: More BTC Losses?
If BTC fails to clear $115,000–$115,500, sellers could push the price lower again.
Immediate support: $112,500
Key support: $112,000
Further breakdown targets: $110,500 → $110,000 → $108,000
Technical Indicators
MACD (Hourly): Bearish momentum strengthening.
RSI (Hourly): Below 50, confirming selling pressure.
Major Levels to Watch
Support: $112,500, $112,000, $110,500
Resistance: $115,000, $115,500, $118,500
👉 Bitcoin remains vulnerable under $115,500. Bulls need to reclaim this level quickly, or the downtrend may accelerate toward $112,000 and below.
