Bitcoin Price Under $113K Dey Test Support Amid Bearish Signals
Bitcoin price dey remain under bearish pressure below $113,000 after e fail hold recovery above key resistance levels. The BTC/USD pair drop from swing high near $117,355 and briefly rebound at $108,750, but e no fit clear the 100-hour simple moving average or $112,500 resistance. Recent price action break bullish trend line at $112,000 and stall near 50% Fibonacci retracement of the drop from $117,355 to $110,734. Immediate resistance dey for $112,400 and $113,000, meanwhile support levels dey at $110,750, $110,000 and $109,500. Technical indicators dey reinforce the downside bias: the hourly MACD dey in bearish territory and the RSI below 50. If price close below $110,750, e fit trigger deeper decline go $108,500 and test $106,500. But if e rally well well above $113,500, e go target $114,000 and $115,500. Traders suppose dey watch these key support and resistance levels well for direction cues.
Bearish
Bitcoin price still dey under critical resistance and e don break key support, na im dey make market sentiment bearish. E no fit hold pass 100-hour SMA and MACD plus RSI marks dey bearish, e show say price fit still drop. Short-term traders fit see more selling wahala as Bitcoin dey try test $110,750 and lower supports for $108,500 and $106,500. Unless Bitcoin go rally pass $113,500 to regain momentum, the downtrend likely go continue, make market people dey cautious for how dem position.