๐งฑ BTC Hits a Wall โ Bulls Losing Steam After the Recent Surge
Bitcoin seems to be running out of breath after its strong rally. The price is now reversing below $113,500, and if it stays under $114,200, more downside could be ahead.
BTC dropped below $114,200 and the 100-hour SMA, even breaking a key trend line around $114,050 on the hourly chart. A break under $112,000 might keep the pair under pressure.
โธป
๐น Bitcoin Price Pullback
After staying strong above $113,500, Bitcoin pushed past $115,000, even touching a high near $116,309. But sellers quickly stepped in. The price slipped below the 23.6% Fib retracement from the move between $106,718 and $116,309.
On the chart, BTC has clearly lost momentum under $114,000 and the 100-hour SMA. Immediate resistance is seen at $113,650, followed by $114,200 and $115,000.
If bulls manage to reclaim $115,000, Bitcoin could climb again toward $116,200, and possibly $117,500โ$118,000.
โธป
๐ป What If BTC Drops Further?
If Bitcoin fails to break above $114,200, we might see more downside pressure. Key support lies at $112,000 and $111,500 (the 50% Fib retracement).
Below that, the next levels to watch are $110,500 and $110,000 โ with $108,500 acting as a strong base if the selloff deepens.
โธป
Support Levels: $112,000, $111,500
Resistance Levels: $114,200, $115,000
#WriteToEarnUpgrade #MarketPullback #CPIWatch #BTC #CryptoUpdate