Bitcoin May Face Continued Correction Near $116,813 as Dominance Drop Could Spur Altcoin Strength

• Bitcoin at $115,572 with $114,755 and $111,918 as near-term supports.

• RSI weakness and volume spikes confirm corrective structure; $116,813 retest is key for bullish continuation.

• Bitcoin dominance fell to 57.96%; a slide toward 40–42% historically favors altcoin rallies.

Bitcoin price analysis, resistance at $116,813 and altcoin outlook. Read actionable support levels and dominance data — stay informed with COINOTAG.

Bitcoin faces resistance near $116,813 while dominance declines; analysts note key supports and potential altcoin strength ahead.

• Bitcoin trades at $115,572 with support at $114,755 and $111,918, while $103,190 demand zone signals possible accumulation.
• RSI weakness and volume spikes confirm corrective structure, with $116,813 retest needed for continuation toward $119,504 levels.
• Bitcoin dominance fell to 57.96% after rejection, with analysts eyeing 40–42% as potential trigger for altcoin outperformance.

Bitcoin price action shifted lower after a rejection from the $119,504–$118,000 range, with sellers absorbing demand and pushing prices toward lower supports. Volume spikes at key levels indicate liquidity hunts near prior consolidations.

Michael van de Poppe noted the market is in a corrective phase, setting up potential “buy the dip” opportunities ahead of a possible altcoin rotation.

What is the current Bitcoin price outlook?

Bitcoin price is trading near $115,572 with immediate resistance at $116,813 and key supports at $114,755 and $111,918. If $116,813 is retested and held, a move toward $119,504 becomes more likely; failure of $114,755 could expose the $103,190 demand zone and extend the corrective phase.

How strong are the immediate support and resistance levels?

Resistance at $116,813 is the first barrier for bulls. Beneath current levels, $114,755 offers short-term support and $111,918 provides stronger protection. The $103,190 zone is historically a demand area where past accumulation occurred.

Volume and RSI indicators show corrective momentum; traders should watch for volume contraction on declines and expansion on retests above $116,813 for confirmation.

Source: Michael van de Poppe (X)

How does RSI weakness affect the trend?

RSI weakness aligns with the recent rejection from higher resistance and supports a corrective structure. Lower momentum increases the likelihood of deeper pullbacks if key supports fail.

Traders should monitor RSI for divergence on declines and look for a bullish RSI recovery accompanying a price retest above $116,813 to signal renewed strength.

How is Bitcoin dominance affecting altcoins?

Bitcoin dominance has retraced to 57.96% after rejection at a long-term descending trendline. Historical precedents in 2017–2018 and 2021 show that sustained dominance drops below ~40% coincided with significant altcoin outperformance.

Moving averages form a bearish crossover on the dominance chart, suggesting momentum is weakening. If dominance slides toward 40–42%, expect capital rotation into altcoins and higher relative gains for speculative assets.

Source: Crypto Seth (X)

Analyst perspectives converge on one structural point: unless dominance breaks convincingly above the long-term descending trendline, the bias favors altcoin strength during Bitcoin corrective windows.

Frequently Asked Questions

What happens if Bitcoin breaks below $111,918?

If $111,918 fails, probability increases for a deeper decline toward the $103,190 demand zone. Historically, that area has seen accumulation, suggesting buyers may re-enter and stabilize price action.

Will altcoins rally if dominance keeps falling?

Yes. A sustained drop in Bitcoin dominance typically reallocates market capital into altcoins, which often outperform during these periods. Monitor dominance and relative volume for early signals.

Key Takeaways

• Resistance test is decisive: $116,813 must hold for bullish continuation toward $119,504.
• Support ladder matters: $114,755 and $111,918 are the immediate support levels; $103,190 is the major demand zone.
• Dominance drives rotation: A slide toward 40–42% dominance historically benefits altcoins; watch moving averages and trendline behavior.

Conclusion

Bitcoin price currently sits at $115,572 with clear decision points at $116,813 (resistance) and $114,755 / $111,918 (supports). Declining Bitcoin dominance at 57.96% increases the probability of altcoin strength if the trend continues. Watch retests, volume, and RSI to time entries — COINOTAG will update readers as conditions evolve.