$BTC The broader trend assessed using the daily chart remains clearly bearish.
Bitcoin failed to hold above $116,000, with the most recent rebound at this level reinforcing the structure of consistently lower highs and lows.
The decline in trading volume along with this downtrend indicates weakening buying interest and increasing indecision among traders.
Support at $108,717 — formed by a recent low — is now a key threshold. If Bitcoin breaks this level with strong volume, it could signal a continuation of the current downtrend.
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On the 4-hour Bitcoin chart, the price has experienced a slight pullback from the support level of $108,717 but has failed to break resistance around $113,000.
This movement seems to be forming a bearish flag, a classic pattern indicating further declines.
Additionally, lower buying volume during rises compared to stronger volume on red candles signals bearish divergence.
Sellers remain firmly in control, with any rise facing significant rebound pressure before gaining momentum.
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From a 1-hour perspective, Bitcoin seems to be consolidating in a micro range, trying to establish itself around $109,436.
However, the lack of volume and small candles indicate that neither bulls nor bears currently dominate this timeframe. While downward pressure has eased, bullish confidence remains absent.
Until a breakout above $113,500 occurs with corresponding volume, short-term traders should approach efforts to form a base with caution.
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Bulls' Verdict:
If Bitcoin can hold above $113,500 with confirmed strong buying volume on the 1-hour and 4-hour charts, a short-term reversal may begin.
This would allow bulls to target resistance zones of $116,000 and $118,500, although success depends on decisive momentum and market participation.
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Bears' Verdict:
The dominant trend remains bearish across all timeframes, with consistent rebounds at key resistances and lower highs forming on each rise.
A confirmed breakout below $108,700 will strengthen the downtrend and open the way for declines towards $105,000 or even $102,000, especially if the volume continues to rise on red candles.
