Bitcoin Faces Rejection Above $110K, Bears Push Price Lower
Bitcoin (BTC) is showing signs of weakness after a strong rally, with the price facing sharp resistance around $110,000. After reaching a recent high of $112,000, BTC has started to retrace, currently trading at $107,407, down from its peak just days ago.
📉 Technical Snapshot:
High Today: $107,320
Low Today: $104,184
Current Price: $106,849
Daily Change: +1.21% (But momentum is fading)
This decline comes after a powerful rally in May that saw Bitcoin surge from under $90,000 to over $110,000. However, the price now appears to be stalling, forming lower highs on the intraday chart — a possible early sign of trend reversal or short-term correction.
📊 Volume has dropped, suggesting reduced buyer strength at current levels. Traders are closely watching the $104K–$105K support zone. A break below this level could lead to a deeper correction toward the $98K–$100K range.
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