Bitcoin Struggles Below Key Resistance — Is a Larger Correction Coming? 🧐📉

Bitcoin once again failed to clear the critical $108,800 resistance zone, triggering another wave of downside pressure.

BTC slipped below key levels at $108,000 and $107,000, eventually finding temporary support around $103,400.

🔹 Current Status:

BTC is trading under $106,800 and the 100-hour SMA

Facing immediate resistance at $105,200 and $105,500

A short-term triangle is forming with support near $104,200 on the hourly chart

🔸 Key Resistance to Watch:

$105,500

$106,200 — aligning with the 50% Fib retracement of the $108,924 swing high to the $103,400 low

A successful break above $106,200 could trigger bullish momentum toward $108,000 and possibly $110,000+

🔻 Downside Risk Increasing?

If bulls fail to reclaim $106,200, Bitcoin could revisit key supports:

Immediate: $104,200

Strong: $103,500

Deeper targets: $102,500 → $101,200

A sharp move could even push BTC below the psychological $100,000 mark

📉 Technical Indicators:

MACD: Bearish momentum increasing

RSI: Below 50, signaling weakening strength

⏱️ Support Levels: $104,200, $103,500

📈 Resistance Levels: $105,500, $106,200

Stay sharp — volatility could spike with macro events in play: