Bitcoin has been grinding upward but is now stalling hard at a key supply zone near $110,800 – $111,000. On the 15-min chart, we’re seeing clear signs of distribution with multiple rejections at the highs and decreasing momentum.
Key Levels to Watch:
Supply Zone: $110,800 – $111,000 (Price struggling to break through!)
Short-term Support: $107,543 – A clean break here could trigger downside momentum.
Demand Zone: $102,500 – $104,000 – High interest from buyers previously.
Final Bearish Target: $103,057
What to Look For:
Breakdown below $107,543 = Possible start of a correction.
Bearish divergence on RSI and MACD building up (if confirmed).
Volume drying up near resistance = possible bull trap forming.
Bias: Neutral-to-Bearish unless bulls break and hold above $111,000 with strong volume.
Traders’ Tip: Be cautious of fake breakouts! Look for confirmation with volume and candle closes.
Do you think this is the start of a BTC pullback or just a pause before new highs?
Drop your analysis in the comments!
#BTCUSD #Bitcoin #CryptoAnalysis #TradingView #SupplyAndDemand #PriceAction #CryptoTraders #BearishSetup #TechnicalAnalysis
Key Levels to Watch:
Supply Zone: $110,800 – $111,000 (Price struggling to break through!)
Short-term Support: $107,543 – A clean break here could trigger downside momentum.
Demand Zone: $102,500 – $104,000 – High interest from buyers previously.
Final Bearish Target: $103,057
What to Look For:
Breakdown below $107,543 = Possible start of a correction.
Bearish divergence on RSI and MACD building up (if confirmed).
Volume drying up near resistance = possible bull trap forming.
Bias: Neutral-to-Bearish unless bulls break and hold above $111,000 with strong volume.
Traders’ Tip: Be cautious of fake breakouts! Look for confirmation with volume and candle closes.
Do you think this is the start of a BTC pullback or just a pause before new highs?
Drop your analysis in the comments!
#BTCUSD #Bitcoin #CryptoAnalysis #TradingView #SupplyAndDemand #PriceAction #CryptoTraders #BearishSetup #TechnicalAnalysis
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