BTCUSD 1. **Current Price Zone (\~108,000):**
* Price is consolidating just under a supply zone (red rectangle), showing potential rejection from the upside.
* The price briefly pushed above the rising trendline but failed to hold it.
2. **Bearish Structure Forming:**
* Price action suggests a **lower high** and potential **head-and-shoulders** pattern.
* Red squiggle indicates a likely **short-term bearish movement** — a drop to the **demand zone** around **105,700–106,900**.
3. **Demand Zone/Order Block:**
* Marked below near **105,741** with label **"Order"**, showing where potential buy orders may sit.
* This is the first major area where price might find support.
4. **Downside Levels:**
* **106,933** and **105,741**: Potential short-term supports.
* **98,332 (Weekly level)**: If the structure breaks fully, price could revisit this major demand zone.
5. **Upside Resistance:**
* **Red supply zone above 109,000** acts as strong resistance — if BTC breaks that with volume, bullish bias resumes.
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### 📉 **Short-Term Bias:**
* **Bearish** unless BTC breaks and holds above **109,000**.
* Expecting a pullback toward **106.9k** or **105.7k**, which may offer **buy-the-dip** opportunities.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.