Bitcoin has shifted momentum sharply, breaking its short-term uptrend after a failed attempt to break above $108,500. This resulted in bearish continuation signals on the 1-hour chart and a confirmed reversal. As it retested the broken support, targets now stand at $104.6K and $102K, pending further support breakdown. Analysts indicate that as long as Bitcoin is below $107K, the outlook appears bearish, with traders monitoring liquidity zones for possible buyer re-entry amidst changing market sentiment.
According to Saqib Iqbal, Senior Analyst at Becoin.net, 'As long as Bitcoin remains below the broken trendline and $107K, sellers are in control.'
The price initially respected a rising channel structure until a liquidity sweep near $108,500 hinted at distribution.
Collection
[
|
...
]