Bitcoin recently formed an Expanding Descending Triangle pattern on the 1H timeframe. The structure broke downside, showing sellers are currently in control.
📉 Price failed to sustain higher highs 📉 Strong breakdown from wave 4 → 5 confirms bearish bias 📉 Retest of resistance now acting as a rejection zone
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🔍 Key Levels to Watch
🔻 Support: 112,800 – 112,600
🔻 Major Demand: 112,200 – 112,000
🔺 Resistance: 113,400 – 113,600
🔺 Bull Recovery Level: 114,000
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🎯 What’s Next?
Base Scenario (High Probability): Bearish Continuation
A rejection from 113,400–600 can trigger next move down
📌 Summary Trend still favors sellers until 114,000 flips to support. Watch reaction at resistance — rejection = continuation down. {spot}(BTCUSDT)
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BTC
77,508.01
-1.21%
0
0
20
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