Market structure is starting to play out as expected. Over the past 45 days, the risk of a major correction has been building — and now we’re seeing confirmation. Bitcoin has already dropped nearly $20K and is currently trading around the 112K level, a key resistance zone that has historically triggered large pullbacks.
In the short term, a relief bounce toward 115K–116K is possible. However, unless price strength returns above key levels, this looks more like a continuation setup rather than a reversal. The broader expectation remains another leg down toward 100K, with extended targets near 95K–90K.
From a higher timeframe perspective, the weekly chart shows a clear rejection from the long-term trendline. As long as BTC fails to secure a weekly close above 125K, downside pressure remains dominant.
On the daily timeframe, price is still trapped inside the 110K–125K supply zone, with weakening structure. A breakdown and acceptance below 110K would likely accelerate the move toward lower targets.
Trade Position:
First target (105K) reached ✅
Holding 50% short position
Watching for a bounce toward 115K to potentially add exposure
Key Levels:
Resistance: 115K–125K
Support: 110K → 100K → 95K → 90K
