Bitcoin (BTC) experienced a decline yesterday, dropping 1.43% as seller dominance pushed the price lower and prevented a sustained break above near-term resistance near $114,008.
The price action now brings key technical support levels between $113,000 and $112,000 into focus. Market analysis warns that a decisive break below this support zone could trigger a further correction towards the $110,000 level or beyond.
Technical indicators underscore the current bearish momentum, highlighted by Bitcoin’s failure to hold above the $114,008 resistance level. Analysts emphasize that a daily closing price sustained below $113,000 could increase downward momentum.
The critical midterm test for market stability is identified at the $112,000 level. Monitoring these specific price thresholds is viewed as essential for forecasting Bitcoin’s potential trajectory in the short to medium term.