Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Cryptowzrd, in a fresh updateon Bitcoin’s daily technical outlook, noted that the marketclosed bearish, leaving room for further downside. A decisive close below the $110,500 support could mark a key shift, making lower levels worth watching. Daily Candle Signals Bearish Pressure For Bitcoin
Cryptowzrd expanded on his outlook by pointing out that Bitcoin’s daily candle closed bearish, with price now trading beneath the $110,500 support zone. This breakdownis significant and could invite further selling pressure in the sessions ahead if buyers fail to reclaim the level. Related Reading Is The Bitcoin Rally Over? Analyst Forecasts Drop To $94,000 If This Level Doesn’t Hold 20 hours ago
He emphasized that holding below this support opens the door for a potential move toward the $100,000 mark. However, a strong bullish candle and a swift recoverycould invalidate the bearish setup, restoring confidence for buyers.
In the analysis, he also highlighted the performance of Bitcoin Dominance (BTC.D), which closed indecisively while displaying weakness. This weakness in dominance is often viewed as a positive signal for altcoins, as it suggests capital is flowing away from Bitcoin and into alternative assets. BTC positioned for a continued downtrend | Source: Chart from CRYPTOWZRD on X
Such a shift in market dominance reflects growing market confidence in altcoins. When Bitcoin dominance stalls or declines, it tends to fuel altcoin rallies, allowing traders to diversify into promising setups across the market.
Finally, he noted that markets are heading into the monthly transition period, a time often associated with increased volatilityand mixed sentiment. Going into the weekend, he emphasized the importance of staying rational and avoiding overextending in either direction, maintaining measured strategies while waiting for clearer confirmation signals. BTC Volatility Dominates Intraday Trading
Cryptowzrd highlighted that today’s intraday chart displayed sharp volatility with a clear bearish tone, as Bitcoin slipped and is currently holding below the $110,400 intraday support. This level has now become critical, as losing it signals weakening buyer strength and raises the risk of further downside pressure. Related Reading Bitcoin Rally Over? CryptoQuant’s Bull Score Index Turns Bearish 2 days ago
He explained that if Bitcoin retests $110,400 and fails to reclaim it, the level could flip into resistance. Such a scenario would likely trigger a short setup, with price action targeting the $105,500 support area or even extending lower if bearish momentum accelerates. This makes the $110,400 region a decisive battleground for traders closely watching intraday setups.
On the other hand, Cryptowzrd pointed out that a strong reclaim and hold above $110,400 could shift momentumback in favor of the bulls, opening the door for further upside pressure. However, the crypto analyst emphasized that the market currently lacks clarity, and traders should exercise caution before rushing in. BTC trading at $108,422 on the 1D chart | Source: BTCUSDT on Tradingview.com Featured image from Getty Images, chart from Tradingview.com