BTC struggles to hold momentum after rejection at resistance
Bitcoin (BTC) slipped below $114,000 in early trading, signaling renewed pressure from sellers after the leading cryptocurrency failed to sustain gains above its recent highs. The move highlights ongoing volatility, as BTC faces challenges at upper resistance while buyers look to defend major support zones.
The 4-hour chart shows that Bitcoin was previously moving inside a descending channel, with repeated rejections near the $118,000–$120,000 resistance area. After testing this supply zone last week, BTC has pulled back sharply, now trading around $114,400.
The decline brings the price closer to the green support region between $110,000 and $111,000, a level that has historically acted as a strong demand zone. If Bitcoin fails to stabilize above $114,000, a deeper test toward this support looks likely.
On the upside, BTC would need to reclaim $116,000–$118,000 to re-establish bullish momentum. Above that, the next key resistance remains near $120,000–$122,000, where sellers have consistently stepped in.
BITX Market analysts point out that Bitcoin’s price action reflects a battle between cautious buyers and aggressive sellers. , “The rejection near $118K was expected, as this area is packed with resistance. Until BTC clears $120K convincingly, the risk of deeper pullbacks remains high.”
According to BITX analysts, “The green support zone near $110K is crucial. A bounce from there could reignite bullish momentum, but a breakdown would likely trigger a wider correction.”
For now, Bitcoin remains under pressure after failing to break above its key resistance levels. Traders are watching closely whether BTC can maintain the $114,000 mark, or if sellers will push it toward the lower end of its support channel.
The coming days may prove decisive: a sustained recovery above $116K could bring back bullish confidence, while continued weakness risks opening the door to a retest of the $110K level.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.