BTC is in Showing a Weakness BTC/USDT Perpetual ContractBINGX:BTCUSDT.PTradeMingBTCUSD BTCUSD BTCUSD BTCUSD BTCUSD BTCUSD BTCUSD BTCUSDT BTCUSDT.P BTCUSDT.P BTCUSD.P BTCUSDT.P BTCUSDT.P BTCUSDT.P BTCUSD.P BTCUSD.P BTCUSDT.P BTCUSD.P BTCUSD.P BTCUSD.P BTCUSD.P BTCUSDC.P BTCUSDT.P BTCUSD.PM BTCUSDC.P BCHUSDT.P 🧭 Overall Context Time Frame-Daily Price recently failed to sustain above the $120K zone and dropped sharply, indicating exhaustion at higher levels. The current structure suggests BTC is at a critical inflection point — either to find support and resume the uptrend, or to confirm a deeper correction. 🟩 Key Levels Identified Zone TypeLevelComment Last Attempt (Supply Zone)$119,789 – $118,362Strong rejection area — where the last bullish attempt failed. This is now a confirmed supply/resistance zone. Major Resistance$116,710Secondary ceiling — breakdown confirmation level if retested and rejected. Current Support Zone$114,624 – $110,129Immediate support area. Price is hovering here — holding this zone = potential short-term bounce. Critical Break Level$107,328If broken, bearish continuation likely. Marks the boundary between range and potential deeper correction. New Low Target Zone$87,513 – $82,743Key demand area if correction deepens. Historically high liquidity and prior structure base. Major Low$74,485Extreme bearish target — long-term accumulation area if BTC enters deep retracement mode. 📉 Bearish Case (Downside Scenario) If BTC breaks and closes below $107,328, it signals: Breakdown of the medium-term structure. Momentum likely shifts toward $87,500 → $82,700 region. Below that, the final macro support lies at $74,500, aligning with the previous cycle’s higher low. Indicators confirming bearish bias: Strong rejection wicks near $120K zone. Sequential lower highs forming since the top. Trading Implication: ➡️ Short-term bias: Sell rallies below $116K. ➡️ Medium-term bias: Bearish continuation under $107K. ➡️ Target zones: $87K – $82K – $74K. 📈 Bullish Case (Recovery Scenario) For bulls to regain control: BTC must defend $110K zone and push above $116K – $118K. A daily close above $119,800 reopens path to $126K and beyond. Signs of bullish continuation: Bullish engulfing candles forming around $110K zone. Volume confirmation and reclaim of $116K resistance. Possible retest of $126K “high liquidity” zone. Trading Implication: ➡️ Short-term bias: Buy dips near $110K with tight stop below $107K. ➡️ Target zones: $118K → $126K. ➡️ Invalidation: Breakdown below $107K. 🧩 Structural Interpretation Current structure = Range between $110K and $119K. The breakdown candle shows institutional rejection — likely distribution near the highs. Price may consolidate before the next impulsive leg. If support holds → sideways-to-up; if breaks → sharp continuation down. 🕯️ Market Psychology Above $120K: Euphoria / final push of the upcycle. Current ($110K): Hope and uncertainty — participants deciding if this is a dip or start of decline. Below $107K: Fear and capitulation → could trigger larger retracement. 📊 Summary Table BiasKey ConfirmationTargetNotes BullishReclaim $118K$126KNeeds strength & volume Neutral/RangeBetween $110K–$118K—Wait for breakout BearishBreak below $107K$87K → $82K → $74KMomentum continuation 🎯 Final Take BTC is at a pivot zone ($110K area) — the next few daily candles will confirm whether this becomes: a re-accumulation (for another push to $126K+), or a distribution top (leading to deeper retracement). 📌 Plan of Action: Watch $107K closely → if broken, prepare for a move to $87K. Reclaim $118K → signals bulls back in control. Use $114K – $110K as immediate reaction zone for short-term scalps or entries.