Bitcoin (BTC/USDT) – Daily Chart Analysis !!Bitcoin / TetherUSBINANCE:BTCUSDTCryptoSanders9563Bitcoin (BTC/USDT) The chart shows a sharp correction from the $124,000 resistance zone, followed by a major liquidation event that wiped out: Long positions: $16.81B Short positions: $2.50B This represents one of the most volatile 24-hour periods in recent months — aligning with the Fear & Greed Index drop to Extreme Fear (24). $123,000 – $124,000 Major ResistanceStrong supply area — multiple rejections in past rallies. $111,000 – $110,000 Current Support ZonePrice is currently consolidating here after the crash. $102,000 – $104,000 Powerful SupportHistorical accumulation zone — where buyers previously stepped in aggressively. Resistance Rejection At the top of the range ($123,000–$124,000), BTC encountered heavy resistance, triggering large-scale profit-taking and the liquidation of overleveraged long positions. This area has acted as a strong rejection zone several times since August, indicating sellers are defending it aggressively. Breakdown and Liquidations After the breakdown of the descending triangle, cascading liquidations forced a steep drop. This led to a high-volume candle (highlighted area) where: Liquidity was cleared both above and below key support levels. Market sentiment flipped rapidly from Greed → Extreme Fear. This kind of liquidation sweep often signals a short-term capitulation — a flush before possible recovery. Support & Market Structure Price bounced from near $110,000, a previous structure support level. If BTC maintains above $110,000, it may attempt to stabilize and retest mid-range resistance around $115,000–$116,000. However, if price breaks below $110,000, we could see a retest of the $102,000–$104,000 demand zone, which is marked as “Powerful Support” — a key area where long-term buyers might re-enter. DYOR | NFA