BTCUSD – Break Below Two-Week Range Signals Weakness, but Key Support Remains Intact

BTCUSD dropped to a three-week low around the 114K area on Friday morning, as market sentiment weakened following President Trump’s latest orders to impose trade tariffs on several countries.

The decline, which broke below a two-week consolidation range, generated a fresh bearish signal, weakening the near-term structure and shifting focus toward the downside.

Daily indicators reflect negative momentum, with both the 10- and 20-day moving averages in a bearish setup, reinforcing the downside bias. Fresh selling pressure is targeting key support at 113681 – the 38.2% Fibonacci retracement of the 98182 to 123261 rally.

A sustained break below this level would confirm the bearish signal and open the door for a deeper retracement toward the 112K zone (former record high), 110700 (50% retracement), and the psychological 110K mark.

However, if prices manage to hold above 113681, it could ease immediate bearish pressure. A recovery above the 10-day moving average at 117500, which is near the midpoint of the recent range, would be needed to neutralize bearish risks and refocus attention on the key resistance at 120K.

Res: 116900; 117500; 118920; 120000
Sup: 114063; 113680; 112000; 111340