Bitcoin Falls Below $115K After $117K Support Test, Traders Await Rebound
OKX data from September 19 and 22 show Bitcoin price dipping below key support levels. Initially, BTC slid below $117,000, trading at $116,796 on Sept 19, before slipping under $115,000 to $114,996 on Sept 22. These moves reflect ongoing volatility and short-term selling pressure as the cryptocurrency tests psychological thresholds. Traders are closely watching whether Bitcoin price can reclaim $115K and $117K or extend its pullback amid macroeconomic uncertainty and profit-taking. Short-term indicators point to bearish momentum, while the long-term outlook hinges on major resistance levels and upcoming on-chain metrics.
Bearish
The double breach of key support levels at $117K and $115K indicates mounting short-term selling pressure and bearish momentum in the Bitcoin market. Combined with macroeconomic uncertainty and profit-taking, traders are likely to adopt a cautious stance, prolonging the pullback. While a rebound could occur if Bitcoin price reclaims these thresholds, the immediate impact is bearish, reflecting potential further downside before any recovery.