Hey Traders 👋
Friday we said 116K was the line to watch, and over the weekend, that floor didn’t just crack, it gave way in style.
👉BTC slid fast, slicing through 115K and 114.5K before finding buyers right above 112.6K.
What’s interesting?
That sell-off, came close to 111.8K, a level we traded weeks ago.
A reminder that support and resistance (chapter 3, lesson 6) isn’t just noise: markets remember, and old levels often come back into play when stress hits.
👉On the bigger picture, Michael Saylor put it well last week: a lot of long-time holders are
“Bitcoin rich, fiat poor.”
Without easy ways to borrow against their stacks, they’re forced sellers when liquidity is tight, fueling these sharp pullbacks.
For now, BTC is boxed between 112.6K support and 115K resistance. Lose 112.7K and the door to 111.8K reopens. Reclaim 115K and the path back to 117.8K–118K resistance is on the table.
