Chart analysis for Bitcoin. !!

Chart analysis for Bitcoin.

A view of Bitcoin, focusing on key technical levels and market structure:

Trend and Price Activity
Downtrend Confirmation:
The price is clearly following a descending trendline. Attempts to break this line near the $111,000-$112,000 resistance level have failed.

Resistance Zone:
The gray area around $111,000-$112,000 represents a supply zone where the price struggled and faced selling pressure.

A very high resistance band exists near $123,000-$124,000 (upper chart), but the price is still well below this level.

Support Zone:
The large green box at $102,000-$106,000 marks a key demand zone, indicating where buyers could step in for a potential reversal or bounce.

DYOR | NFA