⚠️ Bitcoin Rally Fizzles — Bulls Lose Grip Below Resistance
Bitcoin is slipping again after failing to hold above $108,800, with momentum fading and bears regaining control.
🔻 Quick Snapshot:
High Rejected: $108,800
Current: ~$106,000
100-Hour SMA: Below
Resistance Zone: $106,500–$107,000
Support Zone: $105,000–$104,200
📉 What’s Happening?
BTC rejected at $108.8K and fell below $107K
Currently trading under the 100-hour SMA, showing weakness
Forming a bearish trendline on the hourly chart with resistance at $106K
🔎 Key Levels to Watch:
Resistance: $106,500 → break above could target $107,000, then $108,000+
Support: $105,000 → if broken, look for a slide to $104,200 or even $103,500
Macro Level: Below $102K? Expect broader sentiment shift
🧠 Technicals:
MACD: Bearish momentum building
RSI: Under 50 — no bullish momentum
Fib Level Resistance: 50% retracement sits at $107,000
🗓️ Market Sentiment:
Bulls are cautious after failing to defend higher levels, and macro tensions like #TrumpVsMusk continue to weigh on markets. BTC may range until a clear catalyst sparks breakout or breakdown.
💥 Bottom Line:
Bulls must reclaim $106.5K–$107K to regain control. Until then, bears have the edge.