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BTCUSD shows potential downside risk amid weakening technical momentum. BTCUSD recently experienced a break of structure (BOS) near $123,230 but has since retraced, highlighting rejection at that key resistance. The market has now slipped back toward the $117,600 zone, with additional support resting at $115,000. A sustained failure to maintain above this threshold could expose the pair to increased downside risk, particularly if sellers intensify activity. Price action is currently producing lower highs in the short term, and the appearance of bearish candles reinforces the possibility of a corrective decline. This suggests that market participants may be gradually transitioning from accumulation into profit-taking, increasing the likelihood of bearish continuation.
Looking ahead, BTCUSD may initially test the $115,000 support, and if this level breaks convincingly, the next downside target could be the $108,390 zone. In the event of further weakness, price may extend losses toward $95,980 or even $85,010 over a longer horizon. On the flip side, if bulls can defend $115,000 and reestablish momentum above $120,000, the market could still attempt another rally toward $123,230. However, given the prevailing technical conditions, the near-term bias remains tilted toward a bearish correction.
BTC Key Levels
Supply Levels: $125,000, $130,000, $136,000
Demand Levels: $115,000, $108,390, $95,980
What are the indicators saying?
BTCUSD has recently displayed signs of exhaustion after a strong recovery that lifted price toward the $123,230 resistance area. The daily candles now show a slowdown in bullish momentum, with the 9-day Simple Moving Average (SMA) at $118,680 beginning to flatten. Simultaneously, the Relative Strength Index (RSI) hovers around 51, indicating waning strength in buying pressure and a possible shift toward short-term weakness. These signals collectively suggest that while the broader market had enjoyed an uptrend in recent weeks, sentiment is starting to tilt cautiously bearish, especially as the price struggles to hold above $120,000.
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