$BTC

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Bitcoin continues its movement within a downward-sloping range, currently trading near the $108,456 level after a decline of 1.44% over the last 24 hours. It seems that the price has lost upward momentum after failing to hold above the key resistance at $109,400.

On the technical level, the recent candles show clear selling pressure, with the short-term averages breaking such as MA(7) = 108,834 and MA(25) = 109,408, indicating seller control in the short term. The most significant support currently lies at MA(99) = 107,844, making this area crucial for the future movement throughout the day.

📉 If the support at 107,800 is broken with a 4-hour candle close, we may see Bitcoin heading towards the level of 106,800 or even 105,900. However, if the price bounces from this support and successfully exceeds 109K, we may witness a gradual return of upward momentum.