Bitcoin Daily Chart: Breakdown Confirms Bearish Trajectory I would like to begin my new Bitcoin analytical forecast with a critical assessment of the daily timeframe, which provides the most significant signals for the medium-term trend. Opening the daily chart reveals a clear and concerning sequence of technical breakdowns. The first major development was the decisive break of the previous ascending price channel, which invalidated the prior bullish structure and signaled a fundamental shift in momentum. Following this breakdown, Bitcoin did not immediately collapse but instead entered a period of flat trading, consolidating within a sideways price channel that exhibited a slight northward tilt. However, this consolidation has now proven to be a bearish continuation pattern. Crucially, this sideways price channel was recently broken by a decisive downside move, with the price slicing through its lower boundary at the $110,000 level.** This breakdown is a significant technical event, indicating that the equilibrium has been broken in favor of the sellers. As a result, **the world's leading cryptocurrency has continued its decline and is currently trading at $108,440, actively attempting to secure a consolidation below the recently broken support line. This successful conversion of the $110,000 level from support to resistance establishes a clear path for further downside. The bears' primary and immediate target is now a further decline to test the significant previous local low at $103,500. This level represents the next major line of defense for buyers. The market's behavior at this juncture will be critical. A conclusive breakout and daily close below the $103,500 support level would open the door for a more aggressive sell-off, creating a high probability of a continued slide south toward the major psychological and round price mark of $100,000. This level would likely act as a powerful magnet for price and represents a key long-term benchmark for the market's health.
