BITCOIN MARKET UPDATE: REJECTION AND THE BULL TRAP

$BTC Price: $110,993

24h High: $113,293

Key Levels:

Support: $110,766, $110,000

Resistance: $111,600, $112,500

The market dynamic for $BTC Bitcoin has flipped from bullish to bearish. The key event is the violent rejection and the price crashing back below the critical $111,600 breakout level. This former support has now become a heavy wall of resistance. The momentum is now to the downside, with the market looking to test the 24 hour lows. The recent price action on $BTC is a major victory for the bears. #Bitcoin