Bitcoin technical analysis

I’m gonna tell your mom, you posted that.

don't forget our old target at $113500

watching $109400 area to join long

watching $113500 and 110000 to relong

1. Trend Overview

1. BTC is in a clear downtrend from the recent swing high near 123,731.
2. Multiple strong red candles show dominant selling pressure.
3. Price is currently struggling just below 111,971 resistance.

2. Key Resistance Levels

1. 123,731 → Major swing high, strong supply zone.
2. 111,971 → Nearest resistance. Price tested it and failed to break above (now acting as a ceiling).

3. Key Support Levels
Marked in green:

1. 100,424 → First major support.
2. 99,472 → Second support.
3. 98,385 → Third support (deepest, last strong demand zone).

4. Price Action

1. Price attempted a bounce near 110,000, but failed to reclaim 111,971.
2. Multiple rejections confirm bears are still in control.
3. The wicks on the recent candles suggest buyers are defending, but momentum remains bearish.

5. Market Bias

1. Bearish bias dominates as long as BTC trades below 111,971.
2. A daily close under 110,000 could trigger a drop toward 100,400 – 98,300 zone.
3. Bullish case only if BTC breaks & closes above 111,971, which may allow a retest of 116,000 – 118,000 zone.

6. Trading Strategy Idea (Not Financial Advice)

1. Bearish Setup: Watch for rejection near 111,971 → short targets 100,400 – 98,300.
2. Bullish Setup: Only valid if daily closes above 111,971, with upside target 116,000 – 118,000.

Summary:
BTC daily chart is bearish, currently retesting broken support as resistance. If 111,971 holds, next major demand lies around 100K zone. Bulls need to regain 112K+ to invalidate bearish momentum.

watching $107K - $106500 to long

joining the long

The chart shows that Bitcoin is currently in a short-to-medium-term corrective phase after a strong uptrend that peaked in August. The price has broken a key support level, which has now turned into resistance, suggesting a potential continuation of the downward move. The current bias is bearish until key resistance levels are reclaimed.

Detailed Analysis
1. Market Structure and Trend

1. Overall Trend: The broader trend since May has been bullish, marked by higher highs and higher lows.
2. Recent Shift (Bearish): The market structure shifted to bearish in late August. The price failed to make a new high above the peak at $123,731.21 and subsequently broke below the previous significant swing low and support area around $112,000. This is a classic "break of market structure" (BOS), indicating that sellers have taken control for the time being.

2. Key Resistance (Supply) Levels

1. Immediate Resistance: The most critical level to watch is the zone between $111,971.32 and $112,500. This area was previously a strong support zone (demand) that held the price up. Since it was broken, it has "flipped" into a resistance zone (supply). The recent candlesticks show a clear rejection from this level, with upper wicks indicating that buyers' attempts to push higher were met with strong selling pressure.
2. Major Resistance: The all-time high zone around $122,000 - $123,731.21 is the ultimate resistance. This is the origin of the recent major sell-off and represents a significant supply zone.

3. Key Support (Demand) Levels
The chart has several well-defined demand zones (marked in green), which are areas where strong buying pressure previously entered the market. If the price continues to fall, these are the logical areas to watch for a potential bounce or reversal.

1. First Support Zone: ~$100,424.43
2. Second Support Zone: ~$99,472.29
3. Third Support Zone: ~$98,385.45

This entire region from $98,300 to $100,500 represents a strong confluence of historical demand.

Scenarios

1. Bearish Scenario (Higher Probability): Given the recent rejection from the $112,000 resistance area, the path of least resistance appears to be downwards. The price is likely to trend towards the green demand zones. The first major target for sellers would be the $100,424 level. A failure to hold this level could see a further decline towards the $98,385 - $99,472 range.
2. Bullish Scenario (Lower Probability): For the bulls to regain control, they must decisively break through and close above the $112,000 resistance zone. If they can successfully reclaim this level and turn it back into support, it would invalidate the recent bearish structure and could open the way for a retest of the highs around $123,731.

Conclusion
The current technical outlook for BTC/USD on the daily timeframe is bearish. The recent break of structure and the firm rejection at the newly formed resistance level of ~$112,000 suggest that further downside is likely. Traders will be closely watching the demand zones between $98,300 and $100,500 for signs of a potential bottom or a significant bounce.

Disclaimer: This technical analysis is for informational purposes only and does not constitute financial advice. Trading cryptocurrencies involves significant risk.

Short term view

Trend Overview

1. BTC has been in a corrective downtrend since the peak around $123,731 (August).
2. The price is now consolidating between $111,971 (resistance) and $110,000 (support zone).
3. Current daily structure is sideways to bearish after failing to reclaim key resistance.

Key Levels

1. Resistance Zones:
   1. $111,971 → Immediate resistance. BTC needs a strong close above this level to regain momentum.
   2. $123,731 → Major swing high, strong supply zone.

2. Support Zones:
   1. $110,000 – 109,500 → Current support being tested.
   2. $100,424 / $99,472 / $98,385 → Strong downside liquidity zones, potential targets if selling continues.

Price Action

1. After the rejection at $123k, BTC formed a lower high and is now struggling under resistance.
2. Current candlesticks show indecision with small-bodied candles near support, suggesting a battle between buyers and sellers.
3. If price loses $110k, a sharp drop toward $100k psychological level is likely.

Momentum & Outlook

1. Short-term: Sideways, trapped between $111,971 resistance and $110k support.
2. Bearish scenario: Break below $110k → targets $100,424 → $99,472 → $98,385.
3. Bullish scenario: Daily close above $111,971 → opens room toward $116k and possibly retest of $123k.

Summary:
BTC is in a critical consolidation zone. A break below $110k would signal bearish continuation, while reclaiming $112k+ could trigger a bullish recovery toward previous highs.