📉 $BTC Bitcoin’s Rebound Stumbles — Weak Hands Can’t Sustain the Push
Bitcoin stayed below $107,000. $BTC is losing ground and may go below $102,500.
Bitcoin fell again after failing to break $107,000.
The price is below $105,500 and the 100-hour SMA.
BTC/USD broke below a positive trend line with support around $104,200 on the hourly chart.
After falling below $102,500, the pair may continue to fall.
Bitcoin Lost Gains
Bitcoin rebounded over $105,000. BTC overcame $105,500 and $106,000 barrier. Still, bears were active around $107,000.
At $107,400, the price peaked and fell. Prices fell below $105,500 and $105,000. Price fell below the 50% Fib retracement line of the rise from $99,222 swing low to $107,400 high.
Additionally, the hourly BTC/USD chart broke below a bullish trend line with support at $104,200. Bitcoin has fallen below $105,000 and the 100-hour SMA.
Price may see resistance at $104,000 if bulls try another comeback wave. Near $104,750 is the first major resistance. The next hurdle may be $105,500. A close above $105,500 barrier might boost prices. Price may climb and test $107,000 resistance. More increases might push the price toward $107,500. Bulls may face $108,800 and $109,500 next.
More BTC losses?
Bitcoin may fall again if it fails to break $105,000. Support around $102,800 is immediate. First significant support is at $102,400, the 61.8% Fib retracement line of the upward advance from $99,222 swing low to $107,400 high.
Around $101,200 is the next support. More losses might push the price beyond $100,200. BTC may struggle to rebound below $100,000, the primary support.
Major Support Levels: $102,500, $101,200.
$104,000 and $105,000 are major resistance levels.
