Bitcoin is below below below below – but the big trend is still bullish
$Bitcoin has recently dropped from the $118K range to a $113 million level, falling below the key $115K-116K support zone. However, despite its short-term weaknesses, BTC still far surpasses the 200-day SMA, and has risen significantly since the start of the year.
Let’s break down what the chart says and why this is a healthy fix rather than a bearish reversal.
BTC/USD 1 Day Chart – TradingView
Key Technology Levels and Indicators
Broken Support: $BTC is below ~116k (orange line), and previous support turned resistance. Current Price: $113,93250 Days SMA: ~ $112,110 (holds as immediate support) Not sold yet.
The downward movement is noteworthy, but BTC still far outperforms the 200-day SMA and keeps the long-term uptrend intact. The RSI is also recovering from low locality, suggesting that Bear may be losing momentum.
Bitcoin Analysis: Proposed Purchase Zones
For those who want to buy a dip or scale:
$112,000 – $111,000 Zone
This is an important confluence of support: 50-SMA and recent construction. As long as BTC stays here, it could be a low-risk purchase zone.
$100,000 – $99,280 Zone
Strong psychological and structural support backed by 200-SMA. If BTC drops this much, expect heavy buildup.
$75,000 (Extreme Bear Scenario)
This represents a 35% drawdown from the top recently. Perfect for long term entries when macros are ugly.
Bitcoin price forecast: View these zones for exits or risk management
$116,000 – $118,000
I recently lost support. If BTC is pushed back into this zone and not held, it could become a bull trap. Please be careful.
Below $111,000
If BTC closes this level with a strong volume, expect it to drop below $100,000.
Final Thoughts: Will Bitcoin prices recover?
Bitcoin is in the midst of healthy fixes, with short-term emotions still being cautious, while long-term structures still being preserved. Unless BTC falls below $10,000, this dip can offer one of the last major buying zones before the next leg rises.
Whales, facilities and long-term holders will likely be looking closely at the $111,000 and $100,000 area. And you should too.
