🧨 Global Conflict Fears Stall Bitcoin — Is the Rally Losing Its Firepower?

Bitcoin again rose to $108,800. Following advances below $108,000, BTC is battling to climb.

Bitcoin rose again beyond $107,000.
The price is over $106,800 and the 100-hour SMA.

BTC/USD broke below a positive trend line with support around $107,800 on the hourly chart.

If it remains over $105,500, the pair may rise again.

Bitcoin Price Rises Again

Bitcoin price resumed rising from $104,500. BTC crossed $105,500 and $106,200 to enter a bullish zone.

Price soared beyond $108,000 resistance. However, increasing global war worries kept the bears active. After reaching $108,898, the price is correcting. Prices fell below $108,000. The price fell below the 23.6% Fib retracement line of the $104,529 swing low to $108,898 high.

Additionally, the hourly BTC/USD chart broke below a positive trend line with support around $107,800. Bitcoin is over $106,800 and the 100-hour SMA.

Near $107,600 is immediate upward barrier. First major resistance is around $108,000. The next hurdle may be $108,800. A close above $108,800 resistance might boost prices. If the price rises, it may challenge $110,000 resistance. More advances might push the price beyond $112,000.

More BTC losses?
Bitcoin may fall again if it fails to break $108,000. Support is approaching $106,700, the 50% Fib retracement level of the rise from $104,529 swing low to $108,898 high. Near $106,200 is the first big support.

Around $105,500 is the next support. More losses might push the price toward $103,500. BTC may go below $102,000, the primary support.

The technical indications

Hourly MACD - The negative zone is strengthening.

Relative Strength Index hourly BTC/USD RSI is approaching 50.

Major Support Levels: $106,700, $105,500.

Major Resistance Levels: $107,600, $108,000.

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