$BTC Today, Bitcoin is trading at $105,332 with a market capitalization of $2.09 trillion and a 24-hour trading volume of $42.12 billion. The price range over the last 24 hours has fluctuated between $105,042 and $107,528, indicating relatively narrow intraday movements as momentum weakens across several timeframes.

The daily chart of Bitcoin indicates a weakening uptrend with a sharp reversal after reaching heights around $112,000, followed by significant volume on the sell-off, which is characteristic of distribution. Recent candle patterns reflect a bearish engulfing formation that often signals a broader downtrend.

The price fluctuates around $106,000, within a key support zone from $104,000 to $105,000, while resistance is concentrated between $110,000 and $112,000. Indicators such as the Relative Strength Index (RSI) at 54 and the Average Directional Index (ADX) at 27 indicate a lack of strong trend momentum. A cautious approach is recommended, entering a 'bullish' market only if Bitcoin confidently surpasses the $107,000 mark with increasing volume.

On the 4-hour chart, Bitcoin shows a classic double top structure, with a strong rejection near $110,789 and subsequent declines indicating pronounced bearish momentum.

The price has consistently formed lower highs and was recently rejected near $106,500, which is a critical level.

Short-term resistance is just below $108,000, and failure to reclaim the $106,500 level may signal further declines.

The bear structure is strengthened by increasing red volumetric spikes during sell-offs, which is a typical precursor to ongoing weakness. Traders should consider short positions near resistance or wait for a confirmed breakout upwards.

The 1-hour chart of BTC/USD shows short-term consolidation and a potential base forming around $104,683.

Although red volume still dominates, its decline hints at seller exhaustion.

The price is moving in a sideways trend between $104,500 and $106,000, suggesting a standoff between buyers and sellers. This sideways movement is typical of market uncertainty, with intraday resistance at $105,800 to $106,200.

Scalping opportunities may arise on breakouts above $106,000, however, stop-loss levels should be carefully managed due to existing volatility.

Bullish Verdict:

Bitcoin maintains a bullish undertone on a macro scale, supported by the rising long-term moving averages and a resilient market structure above $104,000.

If the price reclaims the $107,000 level with strong volume and nullifies short-term bearish formations, a return to $110,000–$112,000 becomes quite possible.

The momentum from long-term buyers remains intact, indicating a potential continuation of the broader uptrend after consolidation.

Bearish Verdict:

Despite holding above key support, Bitcoin is showing numerous signs of short-term weakness across various timeframes.

Lower highs, fading momentum, and sell signals from the momentum indicator and the Moving Average Convergence Divergence (MACD) indicate an increased risk of further declines.

Failure to break above $106,500 with confidence may lead to a retest of support around $104,000—or even lower—before any sustained correction.