Bitcoin has reached a strong resistance zone near $107,500–$108,500, showing signs of rejection. Based on the 2H chart, price has formed a bearish pattern after a sharp rally, suggesting a potential short opportunity.
📊 Technical Confluence:
Resistance zone holding firm
Bearish engulfing candle at top
Overbought conditions + potential reversal
Price breaking back below local support
🔽 Target Zones:
1st Target: $102,500 – $102,600
Final Target (Strong Support Zone): $98,500 – $99,500
🕒 Watch for confirmation on lower timeframes before entry. Risk management is key.