Bitcoin’s chart today shows clear weakness. The price slid from above $111,500 to test the $109,000 level, with volume dropping off after the morning session. The structure points to sellers gaining control and buyers losing conviction.
Volume and Price Action
The first red flag is volume. Early in the day, turnover spiked near $65B, but that strength didn’t hold. Instead of driving higher highs, volume peaked while price action stalled. When a market fails to advance on heavy volume, it often signals distribution. That appears to be the case here.
As the session wore on, volume trended lower, sliding toward $50B. Meanwhile, the price failed to mount any strong rally attempts. The pattern of declining volume with falling price suggests that buyers stepped back, leaving sellers to dictate direction.
Failed Rallies
The chart shows multiple attempts to recover. Each bounce—whether at noon, mid-afternoon, or late evening—ran into resistance before making meaningful progress. These rallies lacked volume and momentum.
Technically, that creates a series of lower highs. Each failed push confirms the ceiling is coming down. That tightening pressure box usually breaks to the downside.
Support Levels Under Attack
Bitcoin tested $109,000 twice overnight. Both times the bounce was shallow. That’s not the response you’d expect if strong support existed at that level. Instead of a sharp rebound, the price drifted sideways and rolled over again.
Support zones hold when buyers step in with conviction. Here, buyers did not. That weak defense makes another test of $109,000 likely. If it breaks, the next round number near $108,000 could be the immediate target.
Trend Structure
Zooming out on this 24-hour window, the chart shows a clear downtrend. Early highs above $111,500 gave way to mid-day selling that pushed volume down hard. Lower highs and lower lows followed across the evening.
The slope of the downtrend is steady, not steep, which signals controlled selling pressure. That often lasts longer than panic drops because it reflects deliberate unloading rather than quick liquidations. Controlled selling can grind lower over several sessions.
Risk of Breakdown
The real risk now is that volume picks up again—this time on the downside. If sellers regain the same $65B turnover levels that marked the morning, the current $109,000 floor is unlikely to hold. That could set up a move toward $107,000 or lower within the next day.
The key is whether buyers defend the $109,000 area with force. The current chart suggests they won’t. Each attempt to defend has been weaker than the last.
Indicators from Price Action
A few points stand out:
- Lower highs confirm sellers are pushing price ceilings down.
- Flat bounces from $109,000 show support is fragile.
- Declining volume signals waning buyer interest.
- No strong reversal candles formed at support, which usually mark the start of recoveries.
Together, these factors argue for continued weakness rather than a sharp reversal.
Bearish Path Ahead
If Bitcoin stays under $111,000, the trend bias remains bearish. The immediate focus is the $109,000 line. A clean break below it could open the door to $107,000–$106,500. That zone lines up with previous demand areas where buyers stepped in weeks ago.
If sellers drive through that zone on volume, the next big level sits around $105,000. That would mark a retracement of the last major swing higher.
On the flip side, bulls need to reclaim $111,500 quickly to shift momentum. Without that, every rally attempt risks becoming another failed top.
Price action also hints at a sentiment shift. Strong hands who bought dips near $110,000 earlier in the week now face pressure. If those buyers capitulate, it could trigger a round of stop losses under $109,000. That chain reaction would accelerate selling.
Traders often watch these levels closely. Once stops start triggering, downside can cascade faster than expected.Final Take
Bitcoin’s chart today leans bearish. Weak bounces, falling volume, and lower highs point to sellers tightening control. Unless the market retakes $111,500 with conviction, the bias is lower. The $109,000 line is under siege, and a break there could open the way toward $107,000.
The next move hinges on volume. If turnover rises on red candles, this downtrend could deepen. Until buyers prove they can step back in with size, Bitcoin remains at risk of further downside.
