$BTC Bitcoin is under pressure again. The price has dropped to the level of 115 thousand dollars, testing important support. Over the past week, the market has lost almost 4 percent. This looks like a phase of prolonged consolidation, but there is tension in the air.

The technical picture shows alarming signals: a rising wedge is forming — a pattern that often precedes a decline. If the support at the level of 115 thousand does not hold, the next stop could be the area around 112 thousand. In the case of increased sell-offs, it could even go lower, down to 94 or 88 thousand dollars.

Analysts note that the short-term momentum from buyers is weakening. There are currently more short positions than long positions in the futures markets — the market is preparing for a decline.