Bitcoin dey test key support for $111,877 after e break wedge
Bitcoin dey trade below one key support level after e break one rising wedge pattern. For $115,454, e dey test immediate support at $111,877. Analysts dey warn say if e drop below $111,877, e fit push Bitcoin reach psychological $100,000 mark plus extended targets for $95,000–$92,000. But if e fit reclaim $118,000–$120,000, e fit trigger bullish reversal, with resistance for $124,000–$127,000 plus potential breakout go $130,000–$135,000. The rising wedge dey show say momentum dey weaken and say likely get corrective phase. Traders suppose dey monitor these critical support and resistance levels well well as one strong move go fit shape Bitcoin short-term direction and market sentiment.
Bearish
Bitcoin break under di rising wedge support show say di momentum don shift from bullish enter corrective phase. Historically, rising wedge failures dey often lead to big retracement, like how e happen for mid-2021 price corrections. Di immediate support for $111,877 na important one; if e break, e fit trigger stop-loss orders and make selling quick push go down to $100,000 and lower pivot zones around $95,000–$92,000. For short term, market sentiment fit turn negative as traders dey reduce their exposure. But if e bounce back pass $118,000–$120,000, e go cancel di bearish wedge, likely restore people confidence and push price back up to $127,000 and beyond. Di long-term outlook depend on if dem fit get higher support levels back. Overall, di pattern align with past technical breakdowns and advice make people dey cautious until Bitcoin confirm wetin e wan do next.