Bitcoin bulls are having difficulty establishing a low around $113,000 due to weak price and volume performance. The recent bounce has been minimal, struggling to maintain momentum with upside resistance around $114,000. Low trading volumes continue to characterize the market, contrasting sharply with activity during previous declines. Technical indicators reveal a bearish trend, with descending simple moving averages and a break below significant support levels. The daily analysis shows not only a break from a rising trendline but also increasing negative momentum indicated by the MACD. If support levels at $11,982 and the 100-day SMA at $11,053 are breached, the market outlook could further decline toward the 200-day SMA at $100,484. Conversely, a notable recovery would require a move above the 50-day SMA at $116,033 to alter the current bearish sentiment.

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