Bitcoin Near Resistance – Breakout or Breakdown?
Dear traders,
Bitcoin ($BTC ) is now trading around $108,041, after rejecting from the $111,980 zone. This area has acted as strong resistance in the past.
Let’s analyze the situation:
Technical Highlights:
Resistance: $111,900
Support: $107,000
MA50 and MA200 tightening – indicates consolidation
RSI slowly moving toward neutral zone
MACD crossing down = bearish signal
Trade Idea:
If $BTC breaks below $108,500 with volume, short targets could be $105,800.
However, a strong breakout above $112K could push $BTC to $115K+ quickly.
Strategy:
Short below $108.5K
Long if candle closes above $112K
Always use stop-loss!
Not financial advice. Just a chart-based observation.