Bitcoin (BTCUSDT) – Bearish Setup Under ResistanceAfter the recent breakdown from 116,700 levels, BTC has been forming lower highs and consolidating in a range. The recovery towards 113,900 – 114,300 acted as a supply zone, leading to fresh selling pressure.
Currently, BTC is facing resistance near 111,100–112,000, marked in red on the chart. Price action shows repeated rejection and inability to sustain above this zone. The structure is developing into a descending channel (blue projection), indicating continued bearish momentum.
Trade Idea:
As long as BTC remains below 111,200, sellers are in control.
Expected price movement: gradual decline following the descending channel.
Short-term support is at 109,000 – 108,200.
Major downside target: 106,800.
Plan:
Entry Zone (Short): 110,800 – 111,200
Stop Loss: Above 112,100
Targets: 109,000 → 108,200 → 106,800
The bias remains bearish unless BTC reclaims 112,000+ with strong volume.
