Bitcoin Bleeding: Major Supports Shattered, 100K in Sight!BitcoinCRYPTO:BTCUSDManiMarkets 🚨 Bitcoin Bleeding: Major Supports Shattered, 100K in Sight! 📉 BTC/USD (4H Timeframe) Analysis Bitcoin is currently under heavy selling pressure, having broken through several key support levels following a significant rejection from overhead resistance. The price action suggests a continuation of the downtrend, with bulls struggling to establish a base. 1. The Bearish Structure and Key Resistances The chart clearly shows that the bears are in control after a failure to sustain a rally and a confirmed reversal pattern. 🛑 115K to 116K Major Resistance: This area proved to be the major turning point. The price formed a classic Double Top (or a variation of it) at this zone (circled), confirming strong supply and initiating the sharp sell-off. 🔴 111K to 112K Key Resistance: This green-turned-red zone was the last significant high the market made before breaking down. It now represents a critical hurdle. Any bounce is likely to meet heavy selling here. ⚠️ 119.5K to 121K Breakdown Area: This upper red zone shows the initial area where the massive drop originated. It would take an exceptional rally to reach and reclaim this level. 2. The Current Breakdown and Support Levels The most notable recent activity is the decisive break of previous consolidation levels, indicating strong bearish momentum. 💥 107K Support Broken: This was a significant intermediate support that has now been lost, contributing to the downward slide. 💥 103K to 105K Support Broken: The failure to hold this crucial demand zone confirms the strength of the current downtrend. This area will now likely act as immediate resistance on any bounce. 🛡️ 98K to 100K Next Support: The market is now rapidly approaching the major psychological and technical zone of 100,000. The green box highlights the next significant demand area from 98K to 100K. 3. Trade Plan Scenarios Bears (Short): Entry Trigger: A rejection and confirmation of resistance at the recently broken 103K to 105K zone. Target: A test of the 98K to 100K Next Support level. Bulls (Long): Entry Trigger: A confirmed reversal pattern (like a double bottom or strong engulfing candle) within the 98K to 100K support zone. Target: A retest of the 103K to 105K broken support, which is now expected to act as resistance. In summary, Bitcoin is in a decisive downtrend, targeting the psychologically important 100K level. Bears are clearly in control until a major support level provides a strong, convincing bounce. Disclaimer: The information provided in this chart is for educational and informational purposes only and should not be considered as investment advice. Trading and investing involve substantial risk and are not suitable for every investor. You should carefully consider your financial situation and consult with a financial advisor before making any investment decisions. The creator of this chart does not guarantee any specific outcome or profit and is not responsible for any losses incurred as a result of using this information. Past performance is not indicative of future results. Use this information at your own risk. This chart has been created for my own improvement in Trading and Investment Analysis. Please do your own analysis before any investments.