- Bitcoin rejected at $115.7K–$118.9K resistance zone; failure to break above may trigger a drop toward $107K and below.
- Glassnode data shows weakening momentum across spot, futures, and ETF markets, indicating increased risk exposure and reduced buying pressure.
- A decisive move above $119K is required to invalidate the bearish outlook and potentially restore bullish sentiment among short-term market participants.
Bitcoin is already trading below a very important resistance level, which would lead to a possible breakdown in case of the weak price activity further on.
$115.7K Resistance Zone Signals Caution
Bitcoin has faced a clean rejection at the $115.7K–$118.9K resistance range. According to a tweet by Crypto Patel, this zone now acts as a critical threshold for bulls. Price must reclaim this area to shift the current bearish tone. At present, Bitcoin is trading at $114,080, reflecting a 0.12% daily increase but a 2.93% drop over the past seven days.
As long as the price stays under $115,700, the market remains vulnerable to a bearish continuation. Crypto Patel emphasized that a failure to move above this level may open doors for a fall toward $107K, with a possibility of dipping below $100K. A breakout above $119K would invalidate the bearish scenario and could restore confidence.
Momentum Weakens Across Multiple Fronts
Coin Bureau pointed out that Bitcoin’s momentum is fading, as per on-chain data from Glassnode. The weakening is visible across spot markets, futures, options, and ETFs. These indicators suggest seller exhaustion may be surfacing, although downside risks still dominate the short-term picture.
The current fragile market structure reflects hesitation among buyers. Despite modest price stability, the absence of volume strength supports the idea that bulls are not firmly in control. Without a strong catalyst, upward movement remains constrained below resistance.
ETF flows and futures positions are also painting a cautious landscape. Traders appear to be reducing risk, signaling that confidence is yet to return in full force. Glassnode data continues to serve as a warning to market participants.
Support Levels May Be Tested Again
If Bitcoin continues to trade below the $115.7K mark, technical support zones near $107K could come under pressure. This range remains vital for defending against a steeper correction.
Price behavior over the next few sessions will be crucial. Should sellers take control, sub-$100K levels cannot be ruled out. However, a recovery above $115.7K could trigger a shift in market sentiment.
Short-term traders are closely watching trendline reactions and volume shifts for confirmation. Until Bitcoin clears $119K, the risk of further downside remains on the table.
