Bitcoin printed a false breakout above 123,218 USDT, followed by strong rejection.
The ascending trendline from April is now lost, confirming a shift in momentum.
With structure weakening and sellers in control, I expect price to gravitate toward the 104K–108K demand zone in the coming sessions.
Only a decisive reclaim above 123,218 USDT would challenge this view.
Conclusion📝: Based on current structure and momentum, I believe Bitcoin is likely heading toward the 104K–108K region. That said, no analysis is a crystal ball — markets are inherently uncertain, and while probabilities favor downside, nothing can be predicted with absolute certainty.
The ascending trendline from April is now lost, confirming a shift in momentum.
With structure weakening and sellers in control, I expect price to gravitate toward the 104K–108K demand zone in the coming sessions.
Only a decisive reclaim above 123,218 USDT would challenge this view.
Conclusion📝: Based on current structure and momentum, I believe Bitcoin is likely heading toward the 104K–108K region. That said, no analysis is a crystal ball — markets are inherently uncertain, and while probabilities favor downside, nothing can be predicted with absolute certainty.
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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.