$BTC bounce at $112 or drop down to $101.3??

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BTC is forming a massive “M” pattern with a potential target around $101.3.

There are multiple support levels on the way down, so a bounce could happen at any of them. Ideally, this scenario gets invalidated with a strong rebound from $112K. Otherwise, the correction may drag on for weeks until a solid bottom is found.

The RSI is oversold on the 2H, but on the 1W timeframe, BTC looks like it’s just entering a longer-term correction.
⚠️ If the weekly bearish trend confirms, we could be facing several months of downside.

Will this trigger the start of alt season, or will altcoins get crushed even harder? Nobody can say for sure—so stay cautious and don’t get trapped by FOMO.

Here is the 1W chart, which is scary to be honest.

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On the 2H timeframe, we’ve likely touched a local bottom around $107K. Market makers are aware that we’re still in a weekly (1W) bearish trend, and it looks like they want to push price up toward $117K — taking out shorts and closing the CME gap — before another dump plays out.

I still expect BTC to revisit $105K, or even $101K, before we see a real bullish reversal on the weekly. That would mark the bottom of this correction and set the stage for the next big green candle.

This idea was short-term only, so I’m closing it here. A new setup will be posted if something significant develops.