The current market structure exhibits a system under tension. Bitcoin’s dip to the $110,600 weekly support level initiated a cascade of long liquidations, a standard deleveraging mechanism within the derivatives market. The subsequent formation of a bullish divergence indicates a potential exhaustion of localized selling pressure.
The system’s equilibrium now depends on its ability to hold above the $113,000 level, which functions as a validation threshold for short-term bullish momentum. A sustained price above this zone would signal an absorption of sell orders and prepare the architecture for a test of higher liquidity pools near $114,400.
The present price action is a clear signal of systemic tension between localized technical support structures and prevailing macroeconomic pressures.
- Bitcoin Dominance ▴ 57.21%
- Key Support Level ▴ $110,600
- Primary Resistance Zone ▴ $114,000 ▴ $114,400
Signal Acquired from ▴ Benzinga
