MARKET UPDATE: $BTC
• Bitcoin is trading within a descending channel on the 8-hour chart.
• The current price is testing the upper trendline resistance around $109,500–$110,000.
• This level has previously triggered multiple rejections, making it a key area to watch.
• A breakout and successful retest above this resistance could signal bullish momentum.
• The potential target range for a breakout is $114,000–$116,000.
• Failure to break above may lead to another drop toward the mid-channel support.
• BTC is at a crucial decision point; a breakout could shift the trend, while rejection would keep it ranging within the channel.
