Currently, BTC is showing early signs of a short-term recovery after the recent sharp decline. The market has managed to hold above the Current Support zone around $107,357 – $107,353, which has been a crucial stabilizing level over the past few sessions. Price has now begun to climb gradually, indicating that buyers are attempting to absorb previous selling pressure and establish a temporary base.
The immediate focus now shifts toward the Initial Resistance zone near $109,948, which stands as the first key hurdle on the path to recovery. This level is likely to act as a decisive region — if BTC can break and sustain above it, it could trigger a push toward the Major Resistance zone between $113,100 – $112,914. That region, however, is where heavy supply pressure has previously entered, causing sharp declines in prior attempts. Hence, any approach toward that zone should be observed carefully for potential rejection or confirmation of strength.
On the downside, if the price fails to hold above $107,353, we could see a retest of the Next Support at $106,398 – $106,393, followed by the Lowest Support at $105,430, which represents the last structural line of defense before the market risks another drop toward deeper levels near $103,457 (the most recent low).
Overall, the structure currently represents a short-term bottoming attempt within a broader corrective trend. BTC is still trading below the larger resistance zones, so while short-term momentum appears constructive, the broader tone remains cautiously neutral until the market breaks decisively above $109,948 – $110,000. Sustained strength above that region would validate the possibility of a more meaningful upside recovery.
🧭 Summary:
Major Resistance: $113,100 – $112,914
Initial Resistance: $109,948
Current Support: $107,357 – $107,353
Next Support: $106,398 – $106,393
Lowest Support: $105,430
Major Low: $103,457
Market Tone: Neutral-to-bullish in short term; broader structure still corrective.
Bias: Short-term bullish above $107,350; caution below $106,400 as breakdown risk increases.
Key Focus: How BTC reacts between $109,900 – $110,000 will determine whether this current bounce extends or fades into another leg lower.
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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.