Bitcoin
BTC/USDT โ A structural break has become weak and readiness for it is changing
1
Bitcoin against the US Dollar (BTC/USDT) has clearly been bearish on the hourly timeframe after the price failed to reach levels 111,000 โ 112,000, where a series of structural breaks (BoS) and changes of structure (CHoCH) have occurred, successfully pushing the market into a strong bearish trend.
It is currently trading at an important demand area between 107500 โ 106500, which is a retracement area and a shorter boundary, but the pressure is clearly controlled with weakness in momentum after every correction.
๐ Potential scenarios:
Bearish scenario (most likely): Breaking the level 106,500 will confirm the continuation of the bearish trend towards 104,000 โ 102,000, aiming for strong support at 98,000 โ 96,000.
For the temporary fit: A limited retracement from the current demand area may reapply pressure on the supply zone 110,000 โ 111,500 before the bearish trend.
๐นTowards selling:
Selling after correction: 110,000 โ 111,000
๐ฏ Resistance: 104,000 โ 102,000
๐ Stop loss: above 111,800
๐ Overall: Clearly strong bearish with structural clarity.
๐ก Note to analysts: Watch the movement closely around 106,500; breaking it with a new close means a clear entry into a distribution wave possibly towards much lower support levels.
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