BTCUSD Weekly – Supply Pressure vs Key Support (110K in Focus)On the weekly timeframe, BTC is trapped between major supply (117K–119K) and key support (110K–112K).
Supply Zone: Price has faced multiple rejections near 117K–119K, showing strong seller presence.
Order Block/Resistance: The yellow zone around 113K is acting as an active selling area, preventing BTC from reclaiming higher ground.
Support Zone: BTC is currently testing the 110K–112K support zone. If this level holds, we could see another attempt to reclaim 113K.
Scenarios:
1. Bullish Breakout (less likely unless strong volume appears):
Needs to reclaim 113K and break above 119K.
Target zone → 126K–134K.
Stop loss for longs → below 110K.
2. Bearish Breakdown (higher probability if 110K fails):
If 111K–110K zone breaks, BTC likely retests the 103K–106K demand zone.
If that fails → extended move possible toward 97K.
Stop loss for shorts → above 113.5K.
Bias: Neutral to Bearish unless BTC reclaims 113K with strong volume.
