Bitcoin is currently facing strong rejection from the $110K supply zone marked by high-volume trading (highlighted in blue). After reaching a local top around $110K, price has pulled back to test the $107.5K support, but the structure shows early signs of weakness.
Key Levels to Watch:
Resistance Zone: $109K–$110K (Major supply area)
Immediate Support: $107,543 – If this breaks, expect downside momentum.
Target 1: $93,121 – Mid-range structure support (March-April consolidation zone)
Target 2: $76,412 – Major demand zone from March lows (marked in orange)
Bearish Signals:
Price rejected from a high-volume node at resistance.
Candle structure forming potential lower highs on smaller timeframes.
Two clean imbalance zones below price—liquidity targets for larger players.
Strong bearish divergence forming on momentum indicators (not shown here).
Possible Scenario: If BTC fails to reclaim $110K soon, we could see a 3-leg corrective structure heading into early June. Watch for a break and close below $107.5K to confirm further downside.
Upcoming Volatility Triggers:
US economic data (seen in the calendar icons)
Potential reaction around mid-June FOMC/Interest rate decisions
What to Do Now?
Scalpers: Watch $107.5K closely. Breakdown = short opportunity to $93K.
Swing Traders: Wait for breakdown confirmation or watch for a fakeout/reclaim at $107.5K.
Long-term Bulls: $76K–$78K could be a high-probability re-entry zone if we dip.
Let me know in the comments: Are you buying the dip or waiting for a breakdown?
#Bitcoin #BTCUSD #CryptoTrading #SupplyDemand #PriceAction #TradingView #CryptoAnalysis #Bearish #BTCUpdate #SwingTrade
Key Levels to Watch:
Resistance Zone: $109K–$110K (Major supply area)
Immediate Support: $107,543 – If this breaks, expect downside momentum.
Target 1: $93,121 – Mid-range structure support (March-April consolidation zone)
Target 2: $76,412 – Major demand zone from March lows (marked in orange)
Bearish Signals:
Price rejected from a high-volume node at resistance.
Candle structure forming potential lower highs on smaller timeframes.
Two clean imbalance zones below price—liquidity targets for larger players.
Strong bearish divergence forming on momentum indicators (not shown here).
Possible Scenario: If BTC fails to reclaim $110K soon, we could see a 3-leg corrective structure heading into early June. Watch for a break and close below $107.5K to confirm further downside.
Upcoming Volatility Triggers:
US economic data (seen in the calendar icons)
Potential reaction around mid-June FOMC/Interest rate decisions
What to Do Now?
Scalpers: Watch $107.5K closely. Breakdown = short opportunity to $93K.
Swing Traders: Wait for breakdown confirmation or watch for a fakeout/reclaim at $107.5K.
Long-term Bulls: $76K–$78K could be a high-probability re-entry zone if we dip.
Let me know in the comments: Are you buying the dip or waiting for a breakdown?
#Bitcoin #BTCUSD #CryptoTrading #SupplyDemand #PriceAction #TradingView #CryptoAnalysis #Bearish #BTCUpdate #SwingTrade
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.