$BTC

Bitcoin faced resistance at around $105,000 on Sunday, declining by 2% until the next day. However, BTC recovers slightly on Tuesday and retests the $105,000 level. At the time of writing on Wednesday, it trades down to around $103,600.

If BTC continues its pullback, it could extend the decline to retest the psychological support level at $100,000.

The Relative Strength Index (RSI) on the daily chart reads 69, slipping below its overbought level of 70 and pointing downwards, indicating a weakening bullish momentum. If the RSI continues to decline and moves below the neutral level of 50, it would lead to a sharp fall in Bitcoin prices.