Bitcoin has broken down from its descending channel on the 4H chart after repeated rejection from the upper trendline. Price is now hovering near key support at $111,785.
Key Technicals:
Rejection from the descending trendline resistance
Breakdown of the mini-channel structure
Current price: $113,637
Support levels:
$111,785 (Immediate)
$106,057
$101,409
$98,398
Bearish continuation is likely if $111,785 breaks with volume
If the $111.7k zone fails to hold, BTC could see further downside toward $106k and even $98k in the coming sessions.
Invalidation: Bullish only on reclaim of $117K+ with strength.
DYOR | Not Financial Advice
Key Technicals:
Rejection from the descending trendline resistance
Breakdown of the mini-channel structure
Current price: $113,637
Support levels:
$111,785 (Immediate)
$106,057
$101,409
$98,398
Bearish continuation is likely if $111,785 breaks with volume
If the $111.7k zone fails to hold, BTC could see further downside toward $106k and even $98k in the coming sessions.
Invalidation: Bullish only on reclaim of $117K+ with strength.
DYOR | Not Financial Advice
Publicações relacionadas
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.
Publicações relacionadas
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.