The week begins with a downturn for the crypto market, particularly for Bitcoin, which has seen a decrease of 2.29%.
Bitcoin Decline
Bitcoin (BTC) has fallen by 2.29% according to the latest data. Currently, Bitcoin is trading at $115,650.
Current Support Levels
On the hourly chart, BTC's price is near a local support level of $114,955. If a rebound does not occur and the daily candle closes at or below this level, a continued decline to the $114,000 zone can be expected.
Price Downtrend Outlook
On longer time frames, there are no reversal signals yet. If prices hold and no long wicks form, the decline may continue to the $112,000 support by the end of the week. If the drop continues to the nearest support level, a breakout is likely, leading to a dip to the $110,000 range.
The situation in the crypto market remains tense, and participants should closely monitor changes that may impact future price movements.
