BTC – Key Supports Breaking, Bears Gaining Control

[m_c_jacob]

After reaching a local high around 118K in mid-September, Bitcoin turned lower and yesterday broke decisively below the important 112K support.
The break accelerated the selloff, sending price tumbling into the next key zone around 108,500 – 109,000.

With a clear lower high now in place compared to the 124,500 ATH, the structure doesn’t look favorable for the bulls. On the contrary, there are strong chances of continued downside pressure, with the 100K level standing out as the next major magnet for price.

Trading Plan:
• As long as 112,000 – 112,500 holds as resistance, I maintain a bearish bias.
• The strategy remains to sell rallies into resistance, keeping targets toward 105K and potentially 100K.
• Only a decisive reclaim above 112.5K would weaken the bearish case and force me to reassess.