Bitcoin Faces Rising Wedge Breakdown With Risk Toward $112K

Bitcoin trades at $115,454 after breaking wedge support, with $111,877 identified as immediate support on the daily chart.

Analysts warn of downside toward $100K if $111,877 fails, with extended targets between $95,000 and $92,000.

Recovery above $118K–$120K could lift Bitcoin back toward $124K–$127K, with breakout potential toward $135K.

Bitcoin is having renewed technical pressure as analysts highlight a rising wedge pattern on the daily chart. The cryptocurrency has climbed from early-year levels near $73,000 to highs of $127,000

However, the recent rejection near the upper wedge boundary around $127,000–$128,000 has shifted attention toward the formation’s narrowing structure. A rising wedge typically forms when prices move within converging upward-sloping lines, with momentum weakening as the pattern matures. This setup often precedes corrective phases, raising concern among traders monitoring Bitcoin’s current path.

Rising Wedge Pressures Daily Price Action

The structure shows Bitcoin making consistent higher highs and higher lows while confined between the wedge’s support and resistance. Price action now sits near $115,454, after slipping below the ascending support

BTC/USD 1-day price chart, Source: CryptoBoss on X

According to Captain Faibik, this breakdown on the daily timeframe chart marks a key shift from bullish momentum to potential correction. The immediate support highlighted sits near $111,877, while further demand could appear in the $105,000–$108,000 region.

Key Downside Levels Come Into Focus

Analysts emphasize that a failure to hold $111,877 could open the way toward deeper retracement zones. Targets include the psychological $100,000 level, with extended weakness pointing toward $95,000–$92,000

BTC/USDT Perpetual Contract 1-day price chart, Source: Captain Faibik on X

Earlier consolidation around these zones makes them significant pivot areas if selling accelerates. The wider base of the wedge sits near $73,294, representing the long-term support zone from which Bitcoin’s rally originated. These levels now serve as reference points for traders tracking the downside potential.

Upside Scenarios Still Remain Valid

Despite the bearish structure, recovery above key levels could restore confidence. Analysts note that if Bitcoin reclaims $118,000–$120,000, it may retest resistance at $124,000–$127,000

A clear breakout above $127,000 would invalidate the wedge and extend targets toward $130,000–$135,000. However, with price consolidating near the lower wedge boundary, momentum leans weaker in the short term. Traders continue to weigh both outcomes closely, as Bitcoin’s next decisive move could determine the extent of correction or recovery.

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