No false info โ Deep analysis with real market data
Bitcoin once again faced rejection at the $110,000 level and has started to drop. Bulls attempted a breakout, but sellers pushed the price back down, and now BTC is trading below $108,500 and the 100-hour simple moving average (SMA).
A key trendline support was broken, signaling potential short-term weakness.
---
๐ Quick Price Recap:
Bitcoin surged past $108,500, hit a high of $109,700, and then reversed.
The price dropped below $109,200, $108,500, and broke a rising trendline.
It is now trading near $107,800 with resistance building overhead.
---
๐ Technical Analysis:
โ Current Indicators:
MACD (Hourly): Gaining strength in the bearish zone
RSI (Hourly): Below 50 โ bearish momentum in control
Trendline: Broken support at $108,200
๐ Key Levels to Watch:
Resistance Levels:
๐บ $108,150 โ minor bounce resistance
๐บ $108,500 โ 50% Fib retracement (from $109,700 to $107,674)
๐บ $109,700 โ last swing high
๐บ $110,000 โ major psychological barrier
๐บ $112,000 โ $115,000 โ only possible if BTC breaks $110K strongly
Support Levels:
๐ป $107,500 โ immediate support
๐ป $106,500 โ critical zone to avoid sharp losses
๐ป $105,500 โ next support
๐ป $104,200 โ possible target in deeper correction
๐ป $103,500 โ major long-term support zone
---
๐ง Market Sentiment & Behavior:
Bulls are showing exhaustion near $110K
Sellers are active in every bounce
Whales may accumulate near $106K or lower
Market remains volatile โ high caution is advised
---
๐ฎ Whatโs Next for BTC?
๐ข Bullish Scenario:
If BTC reclaims $108,500 with good volume:
Quick retest of $109,700
Break above $110,000 opens doors for $112Kโ$115K
Volume confirmation needed for sustained rally
๐ด Bearish Scenario:
If BTC stays under $108,500:
May test $107,500, then $106,500
Below $106,500 = likely drop to $105,500 or $104,200
If panic sets in, $103,500 becomes critical support
---
๐ Pro Trader Tips:
โ Avoid fresh longs below $108.5K unless reversal confirmation is strong
โ Watch for volume spike at $106.5K โ bounce or breakdown incoming
โ MACD & RSI both point bearish โ trend reversal not confirmed
โ Accumulation zone (for long-term investors) may begin near $104Kโ$106K
---
โ Final Thoughts:
Bitcoin bulls are struggling to break the $110K wall โ it's now acting like a heavy ceiling. Until BTC regains $108,500, the trend stays tilted to the downside.
But donโt forget:
Crypto thrives on surprise moves and fake breakdowns. Be ready, not reactive.
---
๐ Supports to watch: $107,500 โ $106,500 โ $105,500
๐ Upside targets: $108,500 โ $109,700 โ $110,000+
---
๐ฃ Whatโs your take?
Will Bitcoin bounce from $106,500 or are we heading to $104K?
Letโs discuss below ๐
#noobtoprotrader #BitcoinResistance #CryptoNews #Altseason #MarketCrash $BTC
