Bitcoin price don drop reach $110K, e dey face resistance for $114K
Bitcoin price don continue dey fall, e dey trade under 100-hour SMA and e test low for $110,692. Even though e do small rebound pass $112,200, Bitcoin price still dey capped under bearish trend line for $114,000 resistance level.
Immediate resistance dey for $113,600, with big barrier for $114,800 near the 61.8% Fib retracement. For downside, support zones dey for $112,200, $111,500 and $110,650, with main floor for $108,500.
Technical indicators dey show say bearish momentum strong: hourly MACD dey negative side while RSI dey below 50. Traders suppose dey watch these resistance and support levels because Bitcoin price get wahala of volatility and fit drop more if e no fit clear the main hurdles.
Bearish
Bitcoin price no fit break pass di $114,000 resistance and e still dey trade below key moving averages, wey dey signal say selling pressure still dey strong. Di break of support levels for $112,200 and $110,650 dey similar to previous times wey BTC fall comot for trendline. Hourly MACD and RSI dey show bearish momentum too. For short time, market volatility fit increase as traders dey react to these technical barriers. For longer time, Bitcoin fit hold ground between $108,500–$114,800 unless better bullish reason show, dem go keep bearish mindset until clear breakout happen.