Bitcoin Rejected at $110K — Bulls Facing New Resistance 🚨
$BTC attempted a rally but got rejected near $110,000 and is now slipping again.
Currently trading below $108,500 and the 100-hour SMA, with downside pressure increasing.
📉 A key bullish trendline was broken near $108,200, and BTC dropped as low as $107,674.
Immediate resistance now sits at $108,150, with the 23.6% Fib retracement of the recent decline close by.
⚠️ Critical Zone:
• Resistance: $108,500 (50% Fib level)
• Support: $107,500 → $106,500 → $105,500
• Break below $106,500 could accelerate losses to $104,200–$103,500
📈 A close above $108,500 could send BTC back toward $110,000, then possibly $112,000–$115,000 if momentum builds.
🔧 Technical Outlook:
• MACD: Gaining bearish strength
• RSI: Below 50, showing weakness
Will bulls recover, or is more pain ahead?
