$BTC/USDT Analysis (1D-CHART)
Bitcoin has broken down from its multi-week distribution range between 116,000–122,000. Price has closed below the 112,000 floor with strong sell-side momentum and volume expansion, confirming the Wyckoff “Break the Ice” phase that signals transition from distribution into markdown.
As long as BTC remains below 112,000, market structure favors further downside. The immediate reaction zone lies around 108,500–107,500, while the major support cluster sits near 100,800, which aligns with high-volume accumulation from the prior rally. Losing this level would likely accelerate selling pressure.
Any rebound into 112,000–114,000 should be treated cautiously, as it may form a Last Point of Supply before continuation lower. Only a sustained daily close and hold back above 116,000 would negate the bearish outlook and reopen the path to 120,000 and the range highs.
Volume analysis confirms supply dominance, with down days closing on heavier activity compared to lighter-volume bounces. For a constructive shift, BTC would need strong demand bars reclaiming the broken range with follow-through strength.
