BTC USD Technical Analysis

Technical analysis for BTC/USD based on the levels

Key Levels
Support: $101,370.28

Bearish Trendline Resistance: ~$110,840.74

Technical Overview

1. Current Structure
   Price is trading below a descending trendline, indicating ongoing bearish pressure.

Support at $101,370.28 has held previously, suggesting a critical demand zone.

Bearish Trendline Dynamics
The trendline at $110,840.74 marks lower highs, which confirms sellers are still active.

Multiple rejections at or near this trendline reinforce it as a valid resistance.

Bears may continue to short rallies into this area.
Support Level: $101,370.28
This level is crucial:

If held, BTC may attempt another rally toward the trendline.

If broken, BTC could test deeper levels: e.g., $97,500 or $92,000.

Scenario Analysis
Bullish Breakout Scenario
Break and close above $110,840.74 trendline would signal:

Trend reversal or deeper correction of prior downtrend.

Potential upside targets: $114,000, $117,500, or even $120,000+.

Bearish Continuation Scenario
Rejection at trendline and a break below $101,370.28 support would confirm:

Continuation of the downtrend.

Next support zones: $97,500, $95,000, $92,000.

Trading Strategy Ideas
Short Setup
Entry: Near trendline at $110,840.74

SL: Above recent swing high (~$112,500)

TP1: $105,000

TP2: $101,370

TP3: $97,500

Long Setup (only on confirmed breakout)
Entry: Above $111,000

SL: Below $110,000

TP1: $114,000

TP2: $117,500

Indicators to Watch
RSI: If below 50, bearish momentum still active.

MACD: Crossovers may hint at trend shifts.

Volume: Rising volume on breakout = confirmation.