#Bitcoin Technical Outlook
Bitcoin has faced multiple rejections at the $105,000 resistance level since Sunday and has been consolidating just below it for the past four days. As of Friday, $BTC is stabilizing around $103,000.
A confirmed breakout and daily close above $105,000 could pave the way for a potential rally toward the all-time high of $109,588, set on January 20.
However, if Bitcoin fails to close above this key level and pulls back, the price could decline further to retest the psychological support at $100,000.
From a technical perspective:
The Relative Strength Index (RSI) on the daily chart is at 69, pointing downward after falling below the overbought zone at 70—indicating a potential sell signal.
The MACD is on the verge of a bearish crossover on the daily chart. If this crossover confirms, it would add further weight to a bearish short-term outlook.
Traders should monitor price action around the $105K level closely, as a breakout or rejection from this zone is likely to set the tone for Bitcoin's next major move.
