In our previous analysis, we warned:
“Bitcoin is testing the $120K-$124K resistance zone, right under the mid-line of the long-term ascending channel.
A daily close above $124K = breakout. Rejection = bearish retrace.”
And here we are — the rejection hit perfectly.
BTC reached $126K, couldn’t close above $124K, and then dumped straight to $112K, confirming our bearish scenario 🔻
📉 Market recap:
Clean rejection at mid-channel resistance.
Price broke below $118K support → bearish confirmation.
Current zone $112K-$109K may act as short-term demand.
Next major support levels: $105K and $95K.
For bulls to recover, BTC needs to reclaim $118K-$120K on a daily close.
💣 We said this would happen — and it did.
Massive liquidations followed, and once again, patience paid off.
⚖️ Outlook:
Momentum remains bearish while under $118K.
Short opportunities still valid, but manage risk — volatility remains extreme.
💬 Check the proof — our previous BTC call 👇
