Bitcoin just printed a clean rejection from the key $107,427 supply zone and is now dropping fast! Is this the start of a major correction or just a pullback before another pump? Let’s break it down ⬇️
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📊 Key Technical Levels:
🔵 Major Supply Zone: $105,000–$107,427 (heavy rejection and volume imbalance)
⚠️ Mid-Support: $92,160 – prior breakout level and demand reaction point
🧱 Strong Demand Zone: $76,412 – where the last major rally began
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🔥 What’s Happening:
BTC failed to close above $107K and reversed sharply
A bearish structure is forming with lower highs beginning to appear
Price is losing momentum at the top of a high-volume node
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📉 Bearish Bias Until…
BTC reclaims and closes above $107.4K with strong volume = bullish invalidation
Otherwise, we could see a drop to $92K, and if that fails... 🚨 $76K becomes the magnet
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🎯 Trade Plan (for educational purposes):
Entry: Break and retest below $103.5K
SL: Above $107.5K
TP1: $92,160
TP2: $76,412
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💬 What do you think – bull trap or dip opportunity?
🔔 Follow FrankFx14 for expert-level crypto and forex charts! 💥 Like ❤️, Share 🔁, and Comment 🧠 to stay ahead of the game!
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📊 Key Technical Levels:
🔵 Major Supply Zone: $105,000–$107,427 (heavy rejection and volume imbalance)
⚠️ Mid-Support: $92,160 – prior breakout level and demand reaction point
🧱 Strong Demand Zone: $76,412 – where the last major rally began
---
🔥 What’s Happening:
BTC failed to close above $107K and reversed sharply
A bearish structure is forming with lower highs beginning to appear
Price is losing momentum at the top of a high-volume node
---
📉 Bearish Bias Until…
BTC reclaims and closes above $107.4K with strong volume = bullish invalidation
Otherwise, we could see a drop to $92K, and if that fails... 🚨 $76K becomes the magnet
---
🎯 Trade Plan (for educational purposes):
Entry: Break and retest below $103.5K
SL: Above $107.5K
TP1: $92,160
TP2: $76,412
---
💬 What do you think – bull trap or dip opportunity?
🔔 Follow FrankFx14 for expert-level crypto and forex charts! 💥 Like ❤️, Share 🔁, and Comment 🧠 to stay ahead of the game!
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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.