Bitcoin Faces Rejection — Bearish Continuation SetupKey Observations:
Price Action & Rejection Zone:
The highlighted green area represents a short-term supply zone, where previous buying momentum weakened and sellers re-entered the market. Price briefly retested this zone and faced rejection, confirming bearish intent.
Stop Loss Placement:
The red zone above, around $114,300, marks the stop-loss level, strategically set just above the rejection wick to protect against a false breakout.
Bearish Confirmation:
A clear lower high structure has formed, signaling weakening bullish momentum and potential continuation of the downward move.
Target Zone:
The blue dotted line near $111,070 identifies the target level, aligning with a prior support zone and liquidity area — a likely destination for bearish momentum to complete its next leg.
Projected Path:
The curved black and white arrows indicate the expected retracement and continuation pattern, showing price potentially retesting the supply zone before dropping toward the target.
