🔥 Bitcoin Under Pressure — Sellers Take Control as Downtrend Deepens
Bitcoin is struggling below $115,500, with continued bearish momentum that could push the price back toward $112,000 or lower.
• BTC has dropped once again, falling below $116,500
• The price now sits under $115,500 and the 100-hour SMA
• A bearish trendline is forming on the hourly BTC/USD chart, with resistance near $115,400
A breakout above $115,500 could spark a short-term recovery—but for now, the bears remain in charge.
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🔻 Further Downside Risk
After closing below $118,000, Bitcoin slid beneath $116,500 and then tested $112,500. It’s now consolidating losses below the 23.6% Fib retracement from the recent drop (from $124,420 high to $112,610 low).
Immediate upside resistance lies at $114,200, followed by $115,000 and the key barrier at $115,500.
A confirmed break above $115,500 could open the door for a rally toward $118,500 (the 50% Fib level), with further upside potential toward $120,000 and even $121,500.
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⚠️ More Downside Ahead?
If BTC fails to break above $115,000, the decline could continue:
• Initial support: $112,500
• Key support: $112,000
• Next major levels: $110,500, and possibly $108,000 if the selloff intensifies.
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📊 Technical Indicators
• Hourly MACD: Gaining strength in the bearish zone
• Hourly RSI: Below 50, showing weak momentum
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📉 Major Support Levels: $112,500, $110,500
📈 Major Resistance Levels: $115,000, $115,500
