- Bitcoin slips under $115,000 after rejecting $122,000, with the $112,000 level emerging as the crucial support for market direction.
- On-chain data shows redistribution as the Accumulation Trend Score falls to 0.20, reflecting weaker investor demand at current trading levels.
- Technical indicators confirm bearish momentum, with MACD crossing bearish and RSI at 47.8, suggesting increased pressure on Bitcoin’s price stability.
Bitcoin has entered a corrective phase after failing to hold above $122,000, slipping below $115,000. Market participants now turn their attention to $112,000 as the critical support level.
Crypto analyst Ali Charts noted, “$BTC at make-or-break zone. Holding above $116K = bullish reaction. Losing this support = eyes shift to $100K liquidity pool.” His remarks mirror growing caution as the price structure weakens and buyers struggle to maintain control.
Price Action and Market Structure
As of this writing, Bitcoin trades at $116,156 representing a 1.32% loss over the last 24 hours and a 2.96% loss over the week. The rejection at $122,000 created a deviation and is a bearish sign indicating weakness and paving the way for retracements deeper than the initial drop.
The cryptocurrency has been moving within a range of $122,000 to $112,000. With momentum now tilting bearish, the $112,000 mark is seen as the deciding level. Market data shows a liquidity gap beneath this support, which could open a quick move toward $108,000 if breached.
Adding to the concern, Bitcoin has slipped below its ascending trendline support around $116,500–117,000. This break signals the first structural weakness since March, increasing the likelihood of an extended correction.
On-Chain Flows and Investor Behavior
On-chain signals suggest redistribution among holders. The Accumulation Trend Score recently dropped to 0.20, indicating that investors are reducing positions instead of adding to them at current levels. This behavior often develops when market confidence weakens.
Trading volume has also shown a shift. Activity has increased during red candles, pointing to stronger selling pressure. If this continues, deeper supports are expected to come into play.
The $112,000 support is still critical. A bounce from here could bring in buying interest, while failing to defend at this level could lead to a accelerated move down towards $108,000.
Technical Indicators and Market Outlook
From a technical standpoint, momentum is fading. The MACD has the blue line crossing under the signal line with the histogram turning red. This confirms that momentum is shifting towards bearish control.
The RSI is at 47.8, below the neutral 50 mark. Though not oversold, this number does suggest that there is some wiggle room to go lower before a fight back may be attempted.
Market watchers are now focused on whether Bitcoin can reclaim $117,000 with convincing volume. Such a move could trap bears and reestablish bullish sentiment. Otherwise, the focus stays on $112,000, with $108,000 emerging as the next key level should support fail.
