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BTCUSD points toward a sustained bearish correction phase ahead. Technically, Bitcoin has rejected strongly from the $124,530 resistance, forming a notable lower high before breaking below the $111,070 dynamic support. The drop toward the $107,250 zone confirms a bearish structure, with the market establishing new short-term resistance at the order block region between $111,000 and $118,000. Price attempted to retest this supply zone but failed to sustain above it, further validating bearish continuation potential. The breakdown of the previous support around $118,000 has shifted market control to sellers, creating a pathway for deeper corrections if buyers remain weak.
From a forecasting standpoint, BTCUSD is projected to remain under bearish influence in the near term. A corrective retracement toward the $111,000–$118,000 region could provide sellers an optimal re-entry opportunity before a further decline. If the bearish structure holds, price may revisit the $95,980 support level and potentially extend losses toward $85,010, marking a deeper retracement of the previous bullish leg. Sustained closes below $107,000 would confirm downside continuation, while only a daily close above $118,000 would negate this bearish outlook. Overall, the market remains structurally weak, with short-term rallies likely to attract renewed selling pressure.
BTC Key Levels
Supply Levels: $118,000, $124,530, $130,000
Demand Levels: $107,250, $95,980, $85,010
What are the indicators saying?
BTCUSD is currently showing sustained bearish momentum as market sentiment continues to weaken after the recent rally toward $124,530. The daily chart shows price trading below the 9-day simple moving average ($111,070), confirming short-term downside strength. Momentum indicators such as the RSI, currently near 36, suggest continued selling pressure. The recent Change Of Character (ChoCH) around the $107,250 level also signals a shift from bullish to bearish structure, aligning with the broader retracement pattern forming since early October.
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