BITCOIN - Price can correct to support area and then start rise

[cryptoenthusiast]

Hi guys, this is my overview for BTCUSD, feel free to check it and write your feedback in comments

For a significant period, the price of Bitcoin was trading upwards within the confines of a rising channel.

Strong buying pressure led to a breakout above the channel's upper boundary, signaling an acceleration of the uptrend.

After this breakout, the upward momentum stalled, and the price entered a new phase of horizontal consolidation, forming a wide flat range.

The price recently tested the upper resistance of this range near $122800 and was rejected.

As a result, the asset is currently in a corrective move downwards, approaching the key support area located between $114000 and $115000

I expect that the price will find support at the bottom of this flat range, reverse its course, and begin a new rally back towards the top of the range at $122800

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[jacson4]

Solid technical setup—Bitcoin is consolidating after testing resistance near ~$122,800. The pullback is targeting the flat support range between $114,000–$115,000, which aligns with prior horizontal trading zones. If this level holds, it’s a strong base for a reversal back toward ~$122,800.
Keep an eye on volume and RSI divergence. If volume increases on a bounce and RSI turns upward from oversold, bulls could reclaim the range. If not, further dip toward the lower edge wouldn’t be surprising."
Based on recent analysis from chart updates at TradingView.

[Nahid10]

Nice observation—this support zone is getting interesting. Goldman Sachs and other analysts remain positive about Bitcoin's medium-term trend, supported by rising institutional ETF inflows and treasury strategies. If BTC steadies around $115K, target scenarios above $120K and even toward $125 K+ are still plausible.
But failure to hold this support, especially under $114K, may expose it to a deeper correction toward $110K or even $107K. Confirmation and risk controls matter.

[Nahiar806]

Super clear structure here — love the way you outlined the rising channel into consolidation. That $114K–$115K zone definitely looks like the key battleground. Watching closely for a bounce there.

[alex]

Nice breakdown! The rejection at $122.8K aligns with the RSI cooling off on the daily too. If buyers defend that support zone, we could see another strong leg up. Would you consider invalidation below $114K?

[Maxwell]

Appreciate how you marked out the phases — channel, breakout, flat range. Do you think a break below $114K flips the outlook bearish short-term? Or would you still expect a fakeout and rebound?