Bitcoin will rebound from resistance area and continue to fall

[johnblockbuster]

Hello traders, I want share with you my opinion about Bitcoin. A distinct shift in market control from buyers to sellers has defined the recent price action for Bitcoin. After the prior upward wedge failed at the major 119500 resistance level, a significant breakdown occurred, initiating the current bearish phase, which has been neatly contained within a downward channel. The price action within this structure has been orderly, consisting of downward impulses followed by corrective rebounds. The most critical recent development was the downward fall that broke below the key horizontal support level at 112000. Currently, the asset is in the midst of an upward rebound, rallying back to test this broken structure from below. The primary working hypothesis is a brief scenario, anticipating that this rally will fail upon entering the 112900 - 112000 resistance zone. A confirmed rejection from this former support area would validate the bearish trend continuation and signal that the next impulsive move down is imminent. Therefore, the TP for this scenario is logically set at 107000 points. Please share this idea with your friends and click Boost

[Nahid10]

Very clear explanation! The breakdown below 112K and the retest of that zone really does fit the bearish continuation setup. I agree that 107K looks like the logical target if sellers step back in. Thanks for mapping this out so neatly — it’s a great reminder of why structure retests matter.

[jacson4]

Interesting view — I can see the 112K rejection playing out, but I’m also watching if BTC can reclaim and close above 113K. If bulls manage that, we could easily invalidate the bearish case and retest 115K+. Always good to see both sides of the coin. Great breakdown overall!