The Bitcoin price today is trading around $106,950 after facing rejection from the $108,000 resistance zone earlier in the session. Over the past 48 hours, Bitcoin price action has remained choppy as the asset navigates between a key supply zone and a short-term order block.
The rejection near the red liquidity area marked by a Change of Character (ChoCH) confirms sellers defending the $108,800–$110,000 range. However, bulls are holding onto structure, with price still above the $106,000 demand zone.
What’s Happening With Bitcoin’s Price?
A closer look at the 4-hour chart shows that Bitcoin price retraced after testing the overhead imbalance zone. Despite the bearish reaction, price has not violated the recent bullish ChoCH support formed near $105,900. The Bollinger Bands show expanding volatility, but the upper band rejection aligns with the local top. Meanwhile, price is hovering near the 20/50/100 EMA cluster between $106,270 and $106,530, keeping the trend neutral in the short term.
On the daily chart, Bitcoin price toda…
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