#BinanceTurns8 Technical Analysis of Bitcoin Price: Rebound or Collapse?

Bitcoin is holding onto the support level at $108,035 after failing to break the level of $110,413. The two-hour timeframe chart shows sideways price movement above the important upward trend line and below the 50-period exponential moving average ($108,250), while the bearish divergence of the MACD indicator suggests a decline in bullish momentum.

Bitcoin Price Chart - Source: Tradingview This structure will remain intact as long as the Bitcoin price stays above the level of $107,325, as a rebound from the current area can renew trading momentum.

Trading Setup:

Buy Zone: $107,800-$108,100 (watch for the bullish engulfing candle)

Bullish Price Targets: $109,307 and $110,413

Stop Loss: Below $107,200 to limit risk

MACD Indicator Signal: Bearish crossover… confirmation is needed

The next forty-eight hours seem crucial for Bitcoin price predictions; as a drop below the moving line support could end the price rally, but we will remain within the “benefiting from price drop” scenario which calls for optimism as long as the price remains above the level of $108,000

$BTC