#BTC
Bitcoin Price Stalls After Failed Breakout, Targets $100.7K Support Zone
Bitcoin’s recent bullish attempt at continuation has begun to lose steam. On the daily chart, the crypto formed a bull flag pattern, initially showing a breakout. Bitcoin, however, was unable to sustain above the resistance of the flag. Being unable to remain above the breakout level has generated fear among players. The price has now fallen below the previous breakout point, which could imply a short-term decline unless momentum reverses in a hurry
The virtual currency is currently exchanging hands at $108,033, a small 0.1% increase in the last 24 hours. Nevertheless, the market appears to be retesting key technical levels once more. During the last trading session, Bitcoin fluctuated within a support of $107,933 and a resistance of $108,252. These tight price movements further point to market indecisiveness following the unsuccessful breakout attempt.