#StrategyTrade If $BTC fails to rise above the $105,000 resistance zone, it could start another downside correction. Immediate support on the downside is near the $103,500 level. The first major support is near the $102,850 level and the 50% Fib retracement level of the upward move from the $100,772 swing low to the $104,980 high.

The next support is now near the $101,750 zone. Any more losses might send the price toward the $100,200 support in the near term. The main support sits at $98,800.

Technical indicators:

Hourly MACD – The MACD is now losing pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

Major Support Levels – $103,500, followed by $102,850.

Major Resistance Levels – $105,000 and $105,500