๐ Current Price: ~$114,359
๐ป Key Support: $111,704
๐ผ Key Resistance: ~$118,800 โ $120,000
๐ Recent Trend: Pullback after a breakout and retest of prior structure
๐ Structure Overview
1. Accumulation โ Expansion โ Manipulation โ Now in Distribution Zone?
* Accumulation: Took place between $96Kโ$105K (April to early July).
* Manipulation: Massive breakout above $111K key level โ liquidity sweep towards ~$122Kโ$126K.
* Now: Pullback into previous demand zone.
๐ MY OBSERVATION:
๐ฉ Break of Structure (BOS):
* BOS confirmed after price broke and closed above $111,700 (mid-July).
* This level is now acting as support and could act as the launchpad for next move.
โ Fair Value Gap (FVG):
* Notable imbalance (FVG) between ~$111,700 โ $113,000.
* BTC is currently testing this zone โ potential bullish reaction incoming.
๐ Change of Character (CHOCH):
* Temporary CHOCH noted when BTC failed to make a higher high and rejected from $122K.
* But current price action is still holding above structure.
๐ซ Order Block (OB):
* Previous OB sits just under current price (~$111,700).
* This is the line in the sand โ if it breaks, expect further downside.
๐ Volume Analysis
* Volume has decreased during the pullback, indicating that sellers are weakening.
* If bullish volume steps in now, we could see a strong bounce.
๐ฎ What Could Happen Next?
๐ Bullish Scenario:
* Bounce from FVG zone โ retest and break of $118Kโ$120K
* Expansion toward $126K and beyond
* Could mark resumption of bull trend if volume spikes
๐ Bearish Breakdown:
* Break below $111,700 with volume = invalidation
* Price may revisit $105K or even the $98Kโ$100K demand block
โ๏ธThis is a make-or-break zone for BTC.๏ฟฝโ If bulls hold $111.7K, expect a rally toward new highs.๏ฟฝโIf bears gain control, prepare for deeper correction.
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