- Bitcoin price breaks wedge support; short-term trend becomes negative below the $115K resistance zone.
- Bitcoin price is edging at the $111K mark; a break below this level may propel a decline to the $100K psychological support zone
- Bitcoin price needs to break back above $ 115K to gain momentum; the current price formation supports more selling pressure.
Bitcoin price is approaching a critical point of support that will dictate its direction in the short term. The pressure of $111, 000 zone is because it was recently broken out of a rising wedge pattern. Traders are now paying attention at this level to see whether there will be some moderation or a further slide into the regions of the $100,000. The current form indicates caution with the continued selling pressure since mid-July.
Bitcoin Price Breakdown Puts $111K Support in Focus
Bitcoin price has fallen below a rising wedge pattern formed between April and July 2025 between levels of $86,000 and $125,000 a common bearish reversal pattern. According to analyst GertvanLagen, the failure to hold above $125,000 invalidated growth, which was rejected at this level several times. Since that time, Bitcoin price has struggled to regain momentum in price, currently trading around the $120,000 mark, indicative of diminishing bullish strength.
Source: GertvanLagen/X
Bitcoin price has started to form lower highs and lows, with the rejection happening at $121,500, $118,000, and $115,000, and the bottoms were around $106,000 and $101,200. The previous support at $114,000-$115,000 has become resistance. As long as it does not make a robust reversal back above the $125,000 mark, further declines towards the $96,000-$92,000 zones remain probable.
Bitcoin price is currently trading around $112,100, slightly above support at $111,870, the support level of the rally to the all-time high of $125,000 in July. As market analyst CryptoFaibik notes, the price has charted persistent weakness, with repeated rejections around the $115,000-$116,000 resistance area. Should the support at $111,870 fail, the next major support is at $100,778-$102,000, and the critical psychological level is at $100,000.
Source: CryptoFaibik /X
A decline below $100,000 would intensify the downside pressures towards $96,000, or even $89,000. As selling volume increases, Bitcoin price appears weak. A daily close below $111,000 on high volume would confirm a larger decline into Q4 2025.
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