#MarketPullback
Potential bearish reflection for $BTC ... momentum is fading!
Bitcoin is currently trading at 113,792 after repeated failures to break through a strong resistance area, indicating the beginning of a clear bearish structure. The break of the upward trend line on the daily chart reinforces this scenario.
🫷 Quick note 🫸: The Relative Strength Index (RSI) is at 42.74 and still has room to drop, supporting the likelihood of further correction towards the 200-day exponential moving average support near 103,179.
◀️ Breaking the 200 moving average could open the door for deeper declines. Traders are advised to be cautious during this critical technical phase.