#PowellRemarks

🚨 BTC Fails to Break Resistance — Is This the Start of a Bigger Drop?

Bitcoin fell below $106,800 again. BTC consolidates and faces resistance at $106,200.

Bitcoin resumed its slide below $106,200.

The price is below $106,800 and the 100-hour SMA.

The hourly BTC/USD chart shows a short-term triangle with support near $104,200.

If it remains over $103,500, the pair may rise again.

Bitcoin Drops Again

After failing to break $108,800, bitcoin price fell again. BTC fell below $108,000 and $107,000.

A clear drop below $106,200 support. Last, the price tested $103,500. After a low of $103,400, the price is consolidating losses. The 23.6% Fib retracement level of the decline from the $108,924 swing high to the $103,400 low was slightly exceeded.