Bitcoin (BTC/USD) has recently shown signs of weakness after failing to hold above the $117,000 zone. Traders and investors are now questioning whether this correction is just a pause — or the beginning of a deeper downtrend. Market sentiment appears cautious, with sellers stepping in at key levels.
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? Key Levels to Watch
Pivot: $111,800
First Support: $107,000
Second Support: $100,000 (psychological level + 200-day MA)
First Resistance: $117,000
The repeated rejection near $117K has raised concerns that Bitcoin’s momentum is fading. If BTC fails to defend the $107K support, a sharper decline toward the $100K level could unfold.
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📉 Technical Outlook
Bearish Divergence: On the daily chart, RSI has been forming lower highs while the price pushed higher — a classic sign of weakening buying momentum.
Fibonacci Retracement: The $107K–$108K zone aligns with the 0.5 retracement level from the recent rally, making it a critical area to monitor.
Psychological Barrier: $100K remains the ultimate “line in the sand” for many traders. A break below could accelerate selling pressure dramatically.
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💡 Market Sentiment
The crypto community is on edge. While long-term believers remain confident, short-term traders are turning defensive. This mix of fear and caution could result in heightened volatility over the coming weeks.
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⚠️ Risk Disclosure
Trading Bitcoin, Forex, and CFDs involves substantial risk and may not be suitable for all investors. You could lose all your investment. The information above is for general market commentary and educational purposes only. It should not be considered financial advice. Always conduct your own research or consult a licensed professional before making investment decisions.
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