🕹️ Current Price:
Bitcoin is currently trading near $107,200 after a strong rejection at the daily high of $109,997.
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🧱 Major Resistances and Supports:
Level Type Notes
111,000$ Strong Resistance Major liquidation wall for short positions ($30.5 million)
109,997$ Nearby Resistance Highest price in 24 hours – failed to break it
107,664$ Technical Resistance Fibonacci Retracement Level 23.6% – rejected from it
105,400$ Initial Support Short-term local bottom
100,800$ Medium Support Previous bounce point after a false breakout
96,339$ Strategic Support 200-day Exponential Moving Average – critical level
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📊 Technical Indicators:
Indicator Current Reading Interpretation
RSI (14 days) 60.16 in the upper neutral zone – beginning to lose momentum
MACD Histogram +341.54 Previous bullish crossover, but momentum is slowing down
Trading Volume relatively low confirms caution among buyers
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🔄 Overall Technical Context:
The price failed to break the Fibonacci level of 23.6% despite institutional momentum.
The price action pattern shows lower highs after each bullish attempt, indicating weakness in the upward trend.
Short-term moving averages (MA20 and MA50) still support the upward trend, but the presence of whales is pressuring the momentum.
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⚠️ Technical Turning Point:
> If the price breaks the level of $105,400 with increasing selling volumes, we are likely to see a direct test of EMA-200 at $96,339.
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📈 Expected Scenarios:
✅ Bullish:
Break above $111,000 + high trading volume = targets $115,800 then $118,200.
❌ Bearish:
Break below $105,400 + selling pressure = testing $100,800 then $96,300.
