Bitcoin Turned South on H4 Below The Daily Breakdown
As price stalls under a confluence of resistances, the market eyes the 104K–105K structure for direction. Breakdown could open the gates toward 97.7K.
In my recent post Will Bitcoin Make a Deep Correction?, I highlighted the growing pressure beneath Bitcoin’s key resistances and the potential for a bearish continuation deeper in the countertrend space.
Since then, the H4 chart confirms Bitcoin remains trapped under a cluster of bearish structures:
The daily short countertrend line (green) still caps the price.
There’s been a clean H1 breakdown, but no follow-through yet.
Price is consolidating above the 105,188–104,487 local support zone and riding the rising red trendline — a structure that currently holds the market together.
However, signs of weakness are mounting:
The repeated failure to reclaim the breakdown levels at 106,966 and 107,326 shows fading bullish momentum.
H4 pivot level has been broken by a bearish candle.
If the red trendline and the clean H1 breakdown breaks with volume, it could signal the start of the deeper correction we anticipated.
Key Levels to Watch:
Breakdown confirmation: below 104,447
Bearish target: 97,700 — aligning with previous demand zones and the 38.2% retracement
Invalidation of bearish thesis: sustained move above 107,329, and especially above 109,464
The structure is technically coiled for resolution. Traders should watch the 104K–105K region closely — it may decide the next 5–10K move.
Read the original analysis for full context.
