#BTC/USD is showing signs of another lower high after facing strong rejection near the $110,000 resistance zone. The price is currently testing the $106,000 support area, a level that may serve as a crucial retest zone. If buyers step in here, we could see a bullish rebound and potential push toward a new high.
However, if $106K fails to hold, the next support zones to watch are $100K and $95K. A breakdown below $106K opens the door for a deeper correction, possibly targeting $95,000 – a key demand area from previous structure.
Supporting this bearish pressure, the RSI is dropping from the overbought zone, signaling increasing selling momentum. Historically, such RSI movements have coincided with local tops and short-term pullbacks.
🔍 Key Levels:
Resistance: $110,000
Support 1: $106,000 (retest zone)
Support 2: $100,000 (psychological level)
Support 3: $95,000 (major structure support)
📊 Outlook: Watch price action closely at $106K. A strong bounce could reignite bullish momentum. A break below this level may confirm the start of a deeper retracement.
However, if $106K fails to hold, the next support zones to watch are $100K and $95K. A breakdown below $106K opens the door for a deeper correction, possibly targeting $95,000 – a key demand area from previous structure.
Supporting this bearish pressure, the RSI is dropping from the overbought zone, signaling increasing selling momentum. Historically, such RSI movements have coincided with local tops and short-term pullbacks.
🔍 Key Levels:
Resistance: $110,000
Support 1: $106,000 (retest zone)
Support 2: $100,000 (psychological level)
Support 3: $95,000 (major structure support)
📊 Outlook: Watch price action closely at $106K. A strong bounce could reignite bullish momentum. A break below this level may confirm the start of a deeper retracement.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
🌹TRADING is a CASINO💔!? NO‼️ You❗️CAN and ❗️SHOULD make money in trading! Join me, I'll guide you to PROFITABLE TRADING💵! 🟢Free Telegram Channel: : telegram.me/crypto_vulture_signals
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.