Bitcoin$BTC just did the unthinkable ā it broke below a critical trendline that traders and investors have been eyeing for weeks. The pressure is on, and all eyes are locked on one major level: $1,06,600.
Yes, you read that right. The bulls NEED to defend this level like their lives depend on it. Because if Bitcoin fails to close above $1,06,600, we might be staring down the barrel of a deeper correction. šØ
š§ So, What Just Happened?
After a period of sideways chop and fakeouts, Bitcoin$BTC finally made a decisive moveā¦ but in the wrong direction. The ascending trendline from the recent lows has now been violated. That trendline was acting like a lifeline for bulls ā and it just got snapped.
Itās a red flag, and the market knows it.
šļø Why $1,06,600 Is the Level to Watch
This price isnāt just another random number on the chart. Itās a confluence zone of:
Previous resistance turned support
Key horizontal demand zone
Psychological support after trendline breakdown
A daily close above this level could mean the bulls still have a shot at reclaiming control. A close below it? That might open the doors to $1,02,000 and beyond. š¬
š Market Sentiment Right Now
Fear is slowly creeping in
Leverage is flushing out
Altcoins are bleeding
Yetā¦ accumulation might already be happening š
This is where smart money starts preparing for both scenarios. While retail panics, the whales make moves in silence.
š What to Expect Next?
If Bitcoin closes above $1,06,600:
ā”ļø Relief rally incoming, possibly back to $1,08,500 or higher
ā”ļø Market sentiment could flip fast ā watch for short squeezes
If Bitcoin closes below:
ā”ļø Downtrend may accelerate
ā”ļø Liquidations could intensify
ā”ļø Eyes on $1,02k and the $98k liquidity pool
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š¢ Final Thoughts
This is one of those moments where patience and discipline can pay off big. The trendline is broken, yes. But weāre not out of the game yet.
š Pray for a close above $1,06,600.
š§ Stay sharp. Manage risk. Donāt trade emotionally.
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š¬ Whatās your next move? Accumulate the dip or wait for confirmation?
š Drop your thoughts in the comments. Letās navigate this storm together.
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