**๐จ Bitcoin Crashes Below $113K! Here's Why the Dump Started & What I'm Watching Next! ๐จ**
Market-wide panic just got real. **#Bitcoin ($BTC )** has plummeted from its recent high of $123,218, shedding over $10,500 in value and hitting a daily low of $112,722. As of now, it's hovering around $113,141, down nearly 2.5% in the last 24 hours.
This is more than a dipโit's a technical breakdown.
**My breakdown of the trigger points:**
1. **Technical Breakdown:** **$BTC ** sliced through critical supports at $118.9K, $115.5K, and $113.7K. These are now confirmed as strong resistance levels.
2. **Whale Selling:** It looks like major players offloaded huge volumes near the $123K peak, which likely triggered a cascade of liquidations and stop-losses.
3. **Weak Buyer Response:** The lack of a strong bounce even at the $112.7K low shows that bulls are hesitant to step in.
4. **Macro Jitters:** Broader market jitters, including geopolitical news, may have added to the sell-off.
**๐ Multi-Timeframe Analysis:**
* **1H Chart:** The current bounce looks weakโlikely just a bearish retest of the broken $113.7K support. Sellers are still in control.
* **4H Chart:** The downtrend is clear. Price was rejected hard from $119.8K, and the moving averages show a bearish crossover.
* **1D Chart:** We've printed a massive bearish engulfing candle. If $112.7K breaks decisively, we could be heading straight for $107,957 and even $102,453.
**๐ฎ My Plan for What's Next:**
* **Bullish Scenario (Low Probability):** A reclaim of $115.5K with strong volume could send us to retest $118.9K.
* **Bearish Scenario (More Likely):** Failure to hold $112.7K opens the door to $107K, then $102K. This is my primary watch zone.
**My Trading Strategy:**
* **Scalpers:** Trade with caution around the $113.7K level.
* **Swing Traders:** Avoid going long for now.
* **Spot Buyers:** Consider DCA near the major long-term supports at $107K-$102K.
* **Leverage Users:** Use tight stops! Volatility will be high.
**Final Take:** **$BTC ** is in a short-term bear zone. This could be a healthy correction, but the next 48 hours are critical. Don't FOMO in or panic-sell. Smart money is waiting for the next key level to be confirmed.
**๐ Key Levels to Watch:**
* **Resistance:** $113.7K / $115.5K / $118.9K
* **Support:** $112.7K / $110K / $107K / $102K
#Bitcoin #BTC #CryptoCrash #MarketAnalysis #TradingStrategy #TechnicalAnalysis #BTCPrice