BTC/USD Eyes Breakdown Toward Key Support Zone – Targeting $104.600
Bitcoin (BTC/USD) on the 1-hour chart is showing signs of weakness after failing to hold above the resistance-turned-support zone near $107,000 (Support Level 2). Price action has reversed after testing the upper region and is now heading lower, suggesting growing bearish momentum.
Key levels to watch:
Resistance: ~$110,800
Support Level 2 (Broken): ~$107,000
Support Level 1 (Target Zone): ~$104,600
The recent rejection from the $108,000 area and consistent lower highs signal a potential move toward the next key support around $104.600, where buyers previously stepped in. If this level breaks, further downside toward $103,000 could be expected.
Outlook: Bearish bias remains in the short term as long as BTC trades below $107,000. A confirmed breakdown below $104.600 could accelerate the selloff