- BTC confirms a rising wedge breakdown, with support between $110K and $112K and a potential demand zone at $105K–$108K.
- Intraday weakness persists, as Bitcoin struggles near $115,000 with immediate resistance capped at $116,000–$117,200.
- A critical test is ahead, as holding above $115K could stabilize the market, but failure risks a slide toward $100K.
Bitcoin trades near $115,000 following a sharp breakdown. The asset fell from $118,519 and hit a low of $114,742 within hours. The market now weighs whether support holds or deeper losses unfold.
Daily Breakdown
The Bitcoin daily chart confirms a rising wedge breakdown. The bearish pattern shows the price slipping below wedge support. This move signals a possible corrective phase after the recent strong rally.
The first significant support lies between $110,000 and $112,000. This zone coincides with earlier consolidation phases and could attract renewed buying strength. A stabilization here might allow a short-term consolidation before another upward push.
If this level fails, Bitcoin could seek the next demand zone at $105,000–$108,000. History shows this range has supported previous recoveries. Therefore, its importance in sustaining market stability remains high.
Intraday Action
Bitcoin Under Pressure After the $118K peak, key levels ahead also reflect on short-term activity. In the last 24 hours, BTC faced continuous selling. Each attempt at recovery met with renewed weakness and lower highs.
The coin currently trades near $115,067, only slightly above session lows. The $114,700–$115,000 zone has become an immediate support level. On the upside, resistance appears between $115,600 and $116,000, while stronger pressure remains near $117,200.
Sustained buying above these barriers would help negate near-term bearish momentum. Without it, the market risks testing $113,500 or even lower. Therefore, the intraday outlook remains fragile and highly dependent on upcoming support reactions.
Market Outlook
The market evaluates bearish risks and potential consolidation. An extreme breakdown could drag BTC to the psychological $100,000 level. However, holding above $115,000 may allow stabilization.
The long-term structure remains intact despite current weakness. Yet the near-term price action suggests sellers maintain control. The decisive test will come from whether BTC can hold above or break below $115,000.
In summary, Bitcoin Under Pressure After $118K Peak—Key Levels Ahead defines the current market narrative. The outcome depends on whether support zones hold firm. Traders will measure upcoming moves against these critical levels.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
