💣 Rebound Fails — BTC Faces More Downside Pressure
Bitcoin is struggling again, dropping under $113,000 and showing signs it could retest $110,500.
🔹 BTC attempted a rebound from the $108,750 low, pushing briefly above $112,000.
🔹 Price sits below $112,500 and the 100-hour SMA, signaling weakness.
🔹 On the hourly chart, BTC/USD broke past a descending trendline near $111,350, but upside momentum stalled.
📊 Key Levels in Play
Immediate resistance: $112,500 → $113,000 (50% Fib retracement of $117,354 → $110,734 move)
Higher barriers: $114,000, $115,000, and $115,500, with potential to test $116,500 if momentum strengthens
Supports: $110,600, then $109,500, with deeper levels at $108,750 and $107,100. A breakdown could target $105,500, the major support zone.
📉 Indicators
MACD: Bearish momentum, sliding deeper into the negative zone
RSI: Below 50, showing weak buyer strength
⚠️ Outlook
Unless BTC clears the $113,000 resistance, sellers may keep control. Holding above $110,600 is crucial—otherwise, another drop could open the way toward $109,500 and even $107,000.