📉 BTC Consolidates — Is a Breakout Closer Than It Seems?

Bitcoin is trading just below the $105,000 resistance zone, showing weakness after reaching the local high of $111,970 in May.

As of now, BTC is priced around $104,735, and the BTC/USD pair remains under bearish pressure in the short term.

🔻 Current Snapshot:

Price trades below $105,000 and the 100-hour EMA

A descending trendline has formed with resistance at ~$105,800 on the 1-hour chart

Key near-term support sits at $103,000

Major psychological demand zone at $100,000

📊 Fibonacci & Structure:

The price has already tested the 38.2% Fibonacci level (from the drop between $111,970 → $103,000).

A breakout above $105,800 could open the way toward $108,000 and $110,000.

📉 Technical Indicators:

MACD (1H): Gaining momentum in the bearish zone

RSI (1H): Below 50, indicating weak buying pressure

100-hour SMA: Positioned around $105,200 — key dynamic resistance

📈 Upside Scenario:

Break above $105,800 (trendline) → possible run to $108,000

If BTC flips $108,000, targets shift to $110,000–$111,500

Above $111,970 ATH, next stop could be $115,000+

📉 Downside Scenario:

Break below $103,000 could lead directly to the $100,000 psychological level

If $100K fails, support lies at $97,500 and $94,200

Daily close below $100K may trigger short-term panic selling

🧠 Final Take:

Bitcoin is consolidating after its May rally.

A breakout above $105,800 could shift short-term momentum back to the bulls.

But if that fails — the $103K–$100K support range will be crucial to hold.