$BTC has broken down, slicing through the 115,800 support level. The oversold signal appeared after the breakdown, which usually means the downward move can extend further. If we’d seen oversold conditions before the support break, then a bounce would have been more likely.

At this stage, buyers don’t seem interested in stepping in. It’s better to wait for clearer buying conditions. For now, keep an eye on how the price develops — the downtrend is still in play, and as I noted earlier, a move toward the 104,000 area remains on the table.