📉 $BTC Daily Outlook 📈
The chart is beginning to form a rising wedge pattern — but what does that really tell us?
Typically, when a rising wedge appears during a correction or retracement, it's seen as a bearish sign. It usually suggests that buyers are losing steam and a breakdown could be on the way. That said, the bigger picture still looks bullish on both the weekly and monthly timeframes. So, even if we do see a drop, it might just be a short-term pullback rather than a full trend reversal. After gathering liquidity, there’s a strong chance $BTC resumes its broader uptrend.
That’s why I see this wedge as a local structure, not a complete reversal signal. In fact, a breakdown could present a solid long re-entry opportunity, especially if supported by momentum on higher timeframes.
So yes, we might get a dip — maybe even a sharp one — but it could be exactly what’s needed to reset before the next move up.
🎯 Key Levels to Watch
• Resistance Above: 105,583 / 106,407 / 108,000 / 108,955
• Support Below: 104,545 / 103,975 / 102,380 / 101,425
🔥 #Bitcoin Liquidation Heatmap
• Liquidity Above: 106,844 / 107,655 / 108,950 / 109,820
• Liquidity Below: 104,480 / 103,040 / 102,175 / 101,165
📊 Here’s how I’m reading the heatmap:
The first key level is around 104,480, which still sits inside the wedge structure. If we see strong volume there, price could bounce back toward the 106,844 level.
But if that zone doesn’t attract enough volume, we could be looking at the start of a deeper correction. In that case, keep an eye on the lower liquidation levels for possible support and reaction zones.
One crucial battleground right now is the 104.6K–105.8K zone. This area absorbed significant volume during previous liquidations and is currently acting as a major decision point between bulls and bears. For now, BTC is trading below this key level — and that’s something worth watching closely.
