Bitcoin Struggles Near Key Resistance, Faces Potential Decline

Bitcoin trades near $114K below the critical $115K level with aggressive selling pressure and fragile futures market dynamics, signaling a cautious phase and potential further declines.

BTC

Summary

Bitcoin is trading around $114,061 below the key $115K resistance, with increased selling pressure and bearish futures signals from CryptoQuant. Analyst Axel Adler warns that any negative catalyst may trigger long liquidations, possibly driving prices toward $110K or below $100K if momentum fails to recover.

Terms & Concepts
  • SMA: Simple Moving Average, a technical indicator that smooths price data to identify trends over a specified period.