Bitcoin $BTC Hits a Wall: Is a Drop Imminent?

Bitcoin is showing signs of weakness after failing to overcome the significant resistance level at approximately $110,500. The rejection from this price ceiling, following the peak at nearly $111,872, suggests that selling pressure is outweighing buying interest. This pattern indicates a potential downward move, as the price may now seek to retest lower support zones, with an initial target in the $105,600 to $106,800 range before a potential further slide towards $103,700.

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