Bitcoin Expecting Bearish Trend

Recently, Bitcoin successfully reached our target, hitting a new all-time high around $112,000. This milestone marked a significant achievement, driven by improving fundamental data and bullish sentiment.

However, the rally was short-lived. Following the recent speech from Donald Trump, market momentum shifted, and profit-taking intensified. Technically, Bitcoin appears to have formed a false breakout above the global resistance level at 110,000, which was the previous all-time high.

Currently, Bitcoin may be entering a consolidation phase, potentially trading within a range of $106,000 to $104,000 in the short term. Traders should watch this range closely, as a breakout below could trigger deeper corrections, while a strong rebound could signal renewed bullish momentum.

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