Bitcoin Bears Alert – Brace for Potential $112K Slide Imminent

Bitcoin's bull run hits turbulence as analysts warn of significant downside risk.

Technical indicators flash red across major exchanges—momentum shifts toward bearish territory with $112K looming as critical support.

Traders scramble to adjust positions while institutional players watch for entry points at lower levels.

Market sentiment swings from euphoria to caution in classic crypto fashion—because nothing says 'stable store of value' like 20% weekly swings.

Bitcoin Price Struggles To Continue Higher

Bitcoin price started a fresh upward wave above the $113,500 zone. BTC managed to climb above the $114,500 and $115,000 resistance levels.

The bulls were able to push the price above $116,000 and $116,200. The price traded as high as $116,743 and recently started a downside correction. There was a minor decline below the $116,000 zone. The price even dipped below the 23.6% Fib retracement level of the recent MOVE from the $110,815 swing low to the $116,743 high.

Bitcoin is now trading below $115,500 and the 100 hourly Simple moving average. Besides, there is a bearish trend line forming with resistance at $115,350 on the hourly chart of the BTC/USD pair.

Immediate resistance on the upside is NEAR the $115,350 level. The first key resistance is near the $116,150 level. The next resistance could be $116,750. A close above the $116,750 resistance might send the price further higher. In the stated case, the price could rise and test the $117,500 resistance level. Any more gains might send the price toward the $118,500 level. The next barrier for the bulls could be $118,800.

Downside Continuation In BTC?

If Bitcoin fails to rise above the $116,150 resistance zone, it could start a fresh decline. Immediate support is near the $114,500 level. The first major support is near the $113,750 level or the 50% Fib level of the recent move from the $110,815 swing low to the $116,743 high.

The next support is now near the $113,200 zone. Any more losses might send the price toward the $112,500 support in the near term. The main support sits at $110,500, below which BTC might decline heavily.

Technical indicators:

Hourly MACD – The MACD is now losing pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.

Major Support Levels – $114,500, followed by $113,750.

Major Resistance Levels – $116,150 and $116,750.