Is Bitcoin entering the 'Correction Deep Water Zone'? Whales defend at 100,000, spot needs to crash at 120,000, the next K-line is crucial!

This recent pullback in Bitcoin isn't just a minor 'drop and then rebound', but rather a 'deep water probe' under a triple attack of public opinion, capital, and technology.

Since the beginning of this week, Bitcoin has encountered a series of sharp declines, breaking through key support levels (91,000 USD), volume has collapsed, and sentiment has retreated, resulting in a massive nine-figure liquidation unfolding on-chain, with a short-term unstoppable wind of change.

The technical indicators are flashing red:

The DMI death cross has formed, and a bearish trend has been initially established.

The RSI continues to decline, with momentum losing steam across the board.

0.786 FIB support is at 102,153 USD; if this level cannot hold... prepare for a 'defense battle' in the 90,000 range.

If the monthly chart can stabilize above key support, there is hope to restart the upward trend; otherwise, it may need to wash out more floating chips downward.

Currently, this is a bull market correction, not the start of a bear market. However, this round of correction is not a 'superficial stop', but rather a power rearrangement in a structural storm.

Looking at on-chain behavior:

Some users continue to place orders to defend the 100,000 USD range.

Meanwhile, retail and institutional spot traders are poised to strike at 120,000.

In other words—this is a 'chip war', not a battle of beliefs.

The golden cross just emerged but is about to turn into a death cross, indicating that the market is extremely unstable. Technology, news, and sentiment are in a tug of war; this is not the end of the trend, but it is definitely a turning point in rhythm.