Bitcoin Price Analysis: First Bearish Signs Appear as BTC Falls by $20K From ATH

Bitcoin has continued its corrective move this week, dropping from all-time highs and testing key trendline and support ￰0￱ the broader macro structure remains bullish, the short-term outlook suggests consolidation or even deeper downside if buyer momentum fails to step in ￰1￱ Analysis By Shayan The Daily Chart On the daily timeframe, BTC has broken below the 100-day moving average, located around $115K, but is currently sitting right on the lower trendline of the large ascending channel and the critical 200-day moving ￰2￱ area also aligns with a previous order block and is acting as major support. However, RSI remains under 40, reflecting a clear loss of bullish momentum, and unless the price rebounds quickly, this trendline could break, opening the door toward levels below the key $100K zone, which could lead to an overall bearish shift in market ￰3￱ 4-Hour Chart Zooming in, it is evident that BTC has formed a minor base around $105K after the breakdown of $115K and $109K ￰4￱ asset is struggling to reclaim the $108K-$109K zone that has now turned into resistance.

Moreover, the RSI is slightly bouncing but still lacks strong momentum, hovering around ￰5￱ overall structure still favors the bears in the short term unless a strong reclaim of $110K followed by higher lows materializes. Otherwise, sellers could push BTC into the $100K region or even ￰6￱ Analysis Futures Average Order Size Futures order size data shows a dramatic shift from whale activity toward smaller, retail-driven positions over the past few ￰7￱ the price began correcting in September, the number of large whale orders started to vanish, replaced almost entirely by smaller retail ￰8￱ suggests that the smart money has stepped aside from leveraged positions, while retail traders continue to ￰9￱ often occurs during trend exhaustion phases and the latter stages of bull markets, which is a very concerning ￰10￱ reinforces the idea that the recent dip is not driven by strong accumulation, which increases the risk of further downside unless new institutional demand steps in.