#Bitcoin Update.
Bitcoin ($BTC ) price steadies around $108,500 at the time of writing on Wednesday, after facing rejection from the key resistance level the previous day.
Bitcoin price found support around the $107,500$, If Bitcoin continues holding above $107.5k it can reclaim the price above $110k in coming days.
If BTC continues its correction, it could decline toward$106,453. A successful close below this level could extend additional losses toward the October 10 low of $102,000.
The Relative Strength Index (RSI) on the daily chart reads 40, below the neutral level of 50, indicating bearish momentum gaining traction. The Moving Average Convergence Divergence (MACD) also showed a bearish crossover last week, which remains in effect, further supporting the bearish view.
