Bitcoin's recent decline below the $114K support level raises concerns over its market direction as it enters a bearish zone.
Breakdown Zone Holds Market Attention
Bitcoin is currently under pressure as it fails to maintain above the $114K support level, entering a bearish retest zone. This situation raises questions about a possible continuation of the downside or a liquidity trap.
Bullish Flip Zone and Trend Reversal Point
The $115,700 level now serves as a critical bullish flip zone. A strong close above this level on higher time frames could indicate a potential exit for short positions and weaken the bearish structure.
Key Price Levels to Watch
Traders are advised to focus on the $115,700 zone for signs of market direction. A rejection at this level may validate the bearish thesis, while sustained strength above $119,000 could trigger a bullish breakout.
The current structure remains delicate, with traders awaiting a decisive move to determine Bitcoin's short-term direction: a continuation of the breakdown or a potential bull flag breakout.
