BITCOIN is showing signs of weakness after rejecting the liquidity zone near 106,810 failing to break above the recent range high. Price action within the range zone suggests distribution, hinting at a potential downward continuation Technical Outlook: Multiple rejections from the 106K–110K supply zone Formation of a fake area indicates potential bull trapLower high structure forming under major resistance Price could revisit the 103,700 and 101,475 key support levels
Resistance: levels 106,800 109,350 - 110,430
Support: levels 103,700 - 101,400
If price breaks below the range zone low, further bearish momentum may develop toward the 100K psychological level However, a strong reclaim of liquidity could invalidate the setup.
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220pips run...Trade closed: target reached
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Just click the link – no need to copy!
Join us on Telegram now for free Forex signals with a Risk-Reward Ratio of 1:3 to 1:5
⬇ Trade Smart with Zelda! 🩷
#1 t.me/TradeZelda
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Join us on Telegram now for free Forex signals with a Risk-Reward Ratio of 1:3 to 1:5
⬇ Trade Smart with Zelda! 🩷
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Related publications
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.