
Bitcoin forum

Bitcoin has been trading within an ascending channel for several months. Recently, the price failed to sustain momentum near the resistance zone and is now testing the key trendline support.
🔑 Key Points:
Price structure shows a clear ascending channel (Support & Resistance levels well-defined).
Current rejection near resistance signals weakening bullish momentum.
A confirmed breakdown below the trendline support may trigger a deeper correction.
Next potential downside target zone: 100,000 – 95,000 region.
If buyers defend the support, a short-term bounce could occur before further moves.
⚠️ This is a technical analysis idea, not financial advice. Always manage risk and use your own judgment before trading.
tradingview.com/x/2WXodHm8

If BTC holds above 109,800 support zone with a bullish reversal candle, buyers can step in for a short-term bounce toward 110,200 – 110,400 resistance zone.

Price has broken below 110,083 EMA (9) and is now rejecting the support zone (around 110,000 – 109,900). If bearish momentum continues, the next target is 109,600 – 109,400 demand zone.

Price is approaching a key resistance zone. A potential short opportunity is in play with clearly defined targets and risk management.
Entry: 109,700
Stop Loss: 110,400
🎯 Targets:
TP1: 109,100
TP2: 108,900
TP3: 108,800
TP4: 108,700
Risk is limited with SL placed above recent resistance. If momentum continues lower, the downside targets may be achieved step by step.
⚠️ This is not financial advice. Please manage risk according to your own strategy.
