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Bitcoin has entered a corrective phase after its recent all-time high, with the price consolidating at key supports and on-chain data showing increased profit-taking. Market sentiment is cautious, and the next move will decide whether the pullback extends or a fresh bullish leg begins. By Shayan The Daily Chart BTC has broken down from its rising channel after failing to hold above the $124K mark, leading to a correction toward the $110K support zone. The asset is currently hovering below this level, which also aligns closely with the 100-day moving average, making it a critical area for determining whether the recent drop is just a healthy retracement or the start of a deeper pullback. The rejection from the top of the channel signals that bullish momentum has weakened, and sellers have taken more control in the short term. The RSI is also at 43, sitting below the neutral 50 level, which confirms bearish momentum is in play. If Bitcoin fails to climb back above $110K, the next key support lies near the $104K fair value gap, followed by the $90K zone, both of which could act as major demand areas. On the upside, a successful reclaim of the $110K level could allow for a rebound toward the $117K high and possibly retest the $124K ATH, though momentum indicators suggest buyers need renewed strength to push higher. The coming days will be decisive in showing whether BTC stabilizes or extends its correction further. The 4-Hour Chart On the 4-hour chart, BTC has been correcting inside a descending channel after reaching the $124K peak. The asset recently found demand around $108K and is now testing the mid-range resistance near $110K. The drawn curve highlights the gradual shift in market structure, showing how momentum has transitioned from a strong uptrend to a series…

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Filed under: News - @ September 2, 2025 6:26 pm