Bitcoin Price Extend Bearish Break Below Key Supports
Bitcoin price don extend e decline after e break several support levels dem. Bitcoin price drop comot below $113,000 and $112,500, e dey trade under 100-hour SMA. The drop speed reach low near $111,111 before e dash further go around $108,680, wen e dey stable near 23.6% Fibonacci retracement of $117,920–$111,111 swing. Immediate resistance dey for $109,920 and $110,500 trend line, but stronger barriers dey for $111,300 (50% Fib) and $112,500. For downside, main support zones na $108,800, $108,200 and $107,500, with big floor for $105,500. Hourly MACD still bearish, and RSI dey below 50, meaning say downside momentum dey continue. If e no fit regain trend-line resistance, e fit drop further go $106,400. Traders suppose dey monitor these levels for short-term position changes.
Bearish
Bitcoin don break key support levels dem for $113,000, $112,500 and the 100-hour SMA, wen followed by lows near $108,680, e confirm say strong selling pressure dey. Bearish MACD and RSI wey dey below 50 show say the downward momentum no dey stop. Traders fit target lower support levels around $108,200 and $107,500 if price no fit reclaim resistance for $110,500–$111,300. Dis development dey show say short-term selling go continue and maybe long-term consolidation go happen below major floors near $105,500, wey go make outlook for Bitcoin price negative unless im get strong reversal.