BTC Breakdown: Watching 112.6K-113.5K for Rejection Toward 109k

Sep 23

Hello guys!

Trend Structure:
The price was moving in a clear ascending channel, but recently broke down below the lower boundary with strong bearish momentum. This confirms a structural shift from bullish to bearish sentiment.

Current Price Action:
After the breakdown, BTC attempted a relief rally but is now struggling around the 112,682 – 113,581 resistance zone (marked in blue). This area was previously support inside the channel and is now acting as resistance (role reversal).

Scenarios (Entries):

• Rejection at 112,682 zone:
  

If BTC fails to break above this resistance, sellers could step in and push the price lower. A clean rejection here would open the way toward 109,884 (next major support).

• Deeper pullback to 113,581:
  

If bulls manage to push higher, the 113,581 level becomes the last line of resistance. A rejection here would be a high-probability short entry, also targeting 109,884.

Target Zone:
Both rejection scenarios point to 109,884 as the key downside target. A break below that level would increase bearish momentum toward 108,000 and possibly lower.

Sep 26

Trade closed: target reached