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Bitcoin has decisively lost its grip on the critical 104K support level, raising short-term concerns for the bullish outlook. With the prevailing range now defined between 111K and 98K, the breakdown suggests increasing likelihood of a deeper retracement toward the lower boundary of this range.

This structural failure at 104K shifts our immediate focus toward short opportunities, with expectations of a potential retest of the broken 104K level before continuation lower.

We should stay vigilant and monitor price behavior closely as the 98K zone could act as the next key demand region.

https://www.tradingview.com/x/opqxn8c2/

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BINANCE:BTCUSDT.P Chart Image by weslad

www.tgoop.com/wcsechanneI/10916

14.1K viewsJun 22 at 11:55

Bitcoin has decisively lost its grip on the critical 104K support level, raising short-term concerns for the bullish outlook. With the prevailing range now defined between 111K and 98K, the breakdown suggests increasing likelihood of a deeper retracement toward the lower boundary of this range.

This structural failure at 104K shifts our immediate focus toward short opportunities, with expectations of a potential retest of the broken 104K level before continuation lower.

We should stay vigilant and monitor price behavior closely as the 98K zone could act as the next key demand region.

https://www.tradingview.com/x/opqxn8c2/

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