Bitcoin Price Dey Hold Near $109.5K Before Key $110.5K Test
Bitcoin price fall komot below $112,000 and find support near $107,350. E recover go reach around $109,500, break above one short-term contracting triangle for $108,800. Di 100-hour SMA for $110,000 dey still be barrier.
Bitcoin price must clear $109,500 and di 50% Fibonacci retracement near $110,500 to keep di bullish momentum. If e rally pass $110,500 well well, Bitcoin price fit test $111,650 and target $113,500. If e no fit clear $110,500, e fit push di price down reach $108,800, then $108,200 and maybe $105,500.
Technical indicators mixed be dat. Di hourly MACD still for bearish zone but e dey show say momentum dey slow down. Di RSI sit above 50, dey hint say possible bullish reversal dey come.
Neutral
Di market dey for consolidation phase, as Bitcoin price dey stuck between key resistance of $110,500 and support wey near $108,800. Similar consolidation for mid-2023 carry come both sharp breakout and falls, depending on wider market sentiment. The mixed technical signs—waning bearish MACD versus RSI wey dey above 50—show say traders dey wait for clear direction. Short term, if price break pass $110,500, e fit trigger bullish rally go $113,500, but if e fail, e fit make BTC drop below $105,500. For long term, steady trading pass the 100-hour SMA and critical Fibonacci levels fit confirm bullish trend, but if support break well, e fit speed up bearish correction.