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📉 Bitcoin Rising Wedge Breakdown
BTC has corrected 8% from its $124.5K ATH and now faces key downside risks:
📊 Support at $110K–$112K may hold short term
❌ If broken, $105K–$108K comes next
⚠️ Psychological $100K could fail, opening $98K–$94.7K
📉 Bearish wedge breakdown even targets $88K
🐋 Whale addresses (>10K BTC) are at yearly lows → profit-taking pressure
🔄 A 2021-like double top hints at deeper corrections
However, unlike 2021, a potential Fed rate cut in September plus rising global liquidity could cushion the fall, keeping BTC’s broader bull cycle intact.
#Bitcoin Crypto #BTC