$BTC Market Update 🔴

Current Price: $106,772.73 (-4.41%)

Key 24h Statistics:

· 24h High: $111,982.45

· 24h Low: $106,639.79

· 24h Volume: 31,703 BTC ($3.46B)

Technical Analysis Overview

$BTC is experiencing significant selling pressure, breaking below multiple key support levels and moving averages in a pronounced corrective move.

· EMA7: $109,249 → Resistance above

· EMA25: $111,844 → Strong resistance above

· EMA99: $115,577 → Major resistance above

Critical Price Levels

Resistance:

· Immediate: $109,249 (EMA7)

· Strong: $111,437

· Major: $111,844 (EMA25)

Support:

· Immediate: $106,639 (24h Low)

· Strong: $102,000

· Critical: $100,790

Market Outlook & Price Action

BTC shows clear bearish momentum with several concerning technical signals:

· Sharp Decline: -4.41% drop indicates strong selling pressure

· High Volume: $3.46B confirms significant distribution

· Broken Structure: Trading well below all major moving averages

Trading Scenarios

Bullish Recovery:

Hold$106,639 and reclaim $109,249 resistance

Bearish Continuation:

Break below$106,639 could trigger drop toward $102,000

Oversold Bounce:

Technical rebound from current levels possible

Summary

BTC is in a critical technical position with several key developments:

1. Broken support structure below all key EMAs

2. High selling volume indicates institutional outflow

3. Testing crucial support at $106,639

The defense of the $106,639 level is absolutely essential. A breakdown here could trigger a much deeper correction toward the $102,000 support zone.

$BTC is at a major technical crossroads. Watch the $106,639 support closely - a breakdown here could signal significant further downside ahead. The next move will be crucial for medium-term direction.