Bitcoin Price Update: From Euphoria to Correction? 🚨

Bitcoin’s strong uptrend has now shifted into a corrective structure. After printing a new high near $124,533, momentum failed, and sellers stepped back in.

📉 Key Market Signals:

• The latest Break of Structure (BOS) at $112,879 confirms weakness — sellers are in control.

• No Change of Character (CHoCH) back to bullish momentum yet → the bias remains bearish.

📊 Supply & Demand Zones to Watch:

• 🟢 Demand Zone: $92,000–$99,000 → historically strong buyer activity.

• 🔴 Supply Zone: $118,000–$120,000 → heavy rejection, strong resistance.

Midrange ($111,000–$112,000): broken support → now acting as resistance.

Price Action Right Now:

Bitcoin is retesting $111k–$112k. The rejection wicks signal supply capping upside. If buyers fail to reclaim $113k, price is likely heading lower → first target $98,700, extended target $92,000–$94,000.

✅ Bearish Bias Until Proven Otherwise:

• Short-term outlook → bearish continuation.

• Invalidation level → Daily close above $113k opens door to $118k–$120k retest.

• Candle behavior → long upper wicks, weak rallies, impulsive dumps = sellers in charge.

🔮 Bigger Picture:

Corrections are not always bearish doom — they can reload zones before the next major move. If Bitcoin holds $92k–$99k, it could set the stage for another powerful rally later this year.

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