BTCUSDT 30-Min | Microstructure Breakdown at Key Confluence

Price Action:

BTC rejected from Fib 0.5–0.618 zone (110.2K–111.5K), aligning with rising channel resistance.
Failed breakout attempt above local highs (~109.6K) → price sharply reversed.
Clean breakdown from rising wedge/channel support (blue) and EMA cluster.

Support/Resistance:
Immediate support at 107.5K (red horizontal) now under pressure.
Next key support: 106.6K zone (channel lower bound, Fib cluster, previous demand).
Resistance remains strong at 109.8K–110.2K (gray zone + trendline).

Indicators:
Volume spike during recent breakdown = bearish confirmation
Multiple consecutive sell signals after EMA flattening = momentum shift
Minor bounce attempts got rejected at descending EMA stack

🎯 Quick Take:
Bias: Bearish below 108.2K
Scalp short active while price is under red horizontal + EMAs
Watch for bounce attempt near 106.6K–106.3K
Invalidation: Clean reclaim of 108.6K + bullish volume