Bitcoin is currently under extreme pressure, with the price losing critical support levels one after another. After reaching its recent all-time high of $124,000, BTC failed to sustain its bullish momentum and is now trading well below $120,000 — a serious warning sign for traders and investors.
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📉 Current Market Structure — Bearish Momentum Intensifying
Recent price action clearly shows that sellers are in control:
Bitcoin faced a sharp rejection from $124,000 and slid below $120,000
The price is now below both $118,000 and the 100-hour SMA, which further damages the momentum
After losing the $116,200 support, BTC dropped to an intraday low of $115,800
The market continues to consolidate below the 23.6% Fib retracement level ($124,420 → $115,800)
This kind of consolidation usually sets the stage for a potential breakdown, unless buyers step in aggressively.
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🔼 Resistance Levels — What the Bulls Need to Reclaim
To regain bullish momentum, Bitcoin must quickly break above the following levels:
Resistance Level Description
$116,850 Immediate hurdle
$118,000 Initial strong resistance
$118,500 🔑 Key breakout level (potential trend reversal)
👉 A close above $118,500 could trigger a bullish push toward the $119,200–$121,500 range.
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🔻 Support Levels — Critical Zones at Risk
Support Level Description
$115,800 Near-term support (already tested)
$115,000 Strong base
$113,500 Deeper support
$112,500 Final major support
If Bitcoin fails to hold $115,000, the price could quickly drop toward $113,500—$112,500.
In a worst-case scenario, a move toward $110,000 is also possible.
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📊 Technical Indicators — Bearish Pressure Increasing
The hourly MACD is strengthening in the bearish zone
The hourly RSI remains below 50, signaling weak momentum
📉 These technical signals suggest that buyers are currently on the back foot. If BTC does not reclaim $118,500 soon, the bearish momentum may easily extend to the lower support zones.
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✅ Conclusion
Bitcoin is at a critical inflection point.
If the price fails to regain $118,500, an extended correction toward the $115k–$113k range (and potentially $110k) becomes highly likely.
Fear and uncertainty are increasing — and only a strong wave of buying can prevent a deeper breakdown.
> ⚠️ Bulls must protect the $115k–$113k zone, or a drop toward $110k and below may follow.
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