🚨 UPDATE: BTC is consolidating within the channel and continues to face rejection around the 119,500 area, as highlighted in the previous analysis.
If the immediate support at 117,450 breaks, the price could retest the Monday low at 116,450, with further downside potential toward the 114,250 support zone.
To reclaim higher levels, BTC needs a daily candle close above 119,600, which would invalidate the current bearish topping tail candle on the daily chart. Until then, price action is likely to remain range-bound between 119,000 and 112,000.
BTCUSDT The price did test the upper bearish 119531-119807 liquidity zone and reversed so if we close below 117615 the price has a high probability to dump lower to the 115351-113661 liquidity zone