Cryptowzrd noted in a fresh update on Bitcoin’s daily technical outlook that the market is closing its bearish and leaving more room for the downside. At a critical nearer below $110,500 support, it could mark a significant shift and be less valuable to watch.
Daily Candle Signals put pressure on Bitcoin
Cryptowzrd expanded his outlook by pointing out that Bitcoin’s daily candles are closing bearish, with prices currently trading under the $110,500 support zone. This failure is important and could induce further sales pressure in the previous session if the buyer fails to retrieve the level.
He emphasized that holding under this support would open the door for potential movement towards the $100,000 mark. However, strong bullish candles and quick recovery can disable bearish setups and can restore buyer confidence.
In the analysis, he also highlighted the performance of Bitcoin Domination (BTC.D) that was indecisively closed, while showing debilitating. This weakness in control is often considered a positive signal for altcoins, as it suggests that capital flows from Bitcoin to alternative assets.
Such a change in market advantage reflects the increased market confidence in altcoins. When Bitcoin control stalls or falls, it tends to fuel Altcoin gatherings, allowing traders to diversify into promising set-ups across the market.
Finally, he noted that the market is heading towards a monthly transition period. On the weekend he underscored the importance of staying reasonably well, avoiding overexpanding in either direction, and maintaining measured strategies while waiting for a clearer confirmation signal.
BTC volatility controls daytime trading
Cryptowzrd highlighted that today’s intraday charts showed sharp volatility with a clear bearish tone as Bitcoin slips down and is currently below support of under $110,400. This level has become important as losing IT shows weakening the strength of the buyer and further increases the risk of downside pressure.
He explained that if Bitcoin retests $110,400 and can’t get it back, the levels could flip into resistance. Such a scenario is likely to cause short setups, with price action targeting $105,500 support areas and extending low even with bearish momentum accelerated. This will make the $110,400 region a critical battlefield for traders who are closely watching daytime setups.
Meanwhile, Cryptowzrd opened the door for strong recalls and potentially returning the bull’s favor by bringing it back to the bull’s advantage, seeking even more reverse pressure. However, Crypto analysts emphasize that there is currently no clarity in the market, and traders should pay attention before rushing.
