🔥 Bitcoin Hits a Wall — Can the Rally Regain Strength After $110K Failure?

Above $107,500, bitcoin price rose again. BTC is battling to break $110,500 and may reverse gains.

Bitcoin renewed its rise past $108,000.
The price is above $107,800 and the 100-hour SMA.
BTC/USD broke below a positive trend line with support around $109,450 on the hourly chart.

The pair might soar if it breaks $110,000 resistance.

Price of Bitcoin Corrects Gains

Bitcoin price rose after breaking the $105,500 support zone. BTC broke $106,500 and $108,000 barrier.

Bulls pushed price over $109,200 barrier. Price is correcting from a peak of $110,375. A drop below the 23.6% Fib retracement level of the $105,477 swing low to $110,373 high occurred.

Additionally, the hourly BTC/USD chart broke below a positive trend line with support around $109,450. Bitcoin is over $107,500 and the 100-hour SMA.

Near $109,250 is immediate upward resistance. Near $110,000 is the first major resistance. The next hurdle may be $110,500. A close above $110,500 barrier might boost prices. If the price rises, it may challenge $112,000 barrier. More advances might push the price beyond $115,000.

More BTC losses?
Bitcoin may fall again if it fails to break $110,000. The 50% Fib retracement level of the upward run from the $105,477 swing low to the $110,373 high is approaching $108,000 and immediate support. Near $107,350 is the first big support.

Around $106,550 is the next support. More losses might push the price toward $105,500. BTC may go below $105,000, the major support.

The technical indications

Hourly MACD - MACD is falling in the positive zone.

Relative Strength Index hourly BTC/USD RSI is below 50.

Major Support Levels: $108,000, $107,350.

Major Resistance Levels: $110,000, $110,500.

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