Bitcoin Price Slips Again, Triggering Fresh Fears of a Deeper Correction 📉
Bitcoin experienced a fresh decline, testing the $104,200 zone, with the price now consolidating. It struggles to surpass the $106,800 resistance. Currently trading below $106,000 and the 100 hourly SMA, a bullish trend line supports it at $104,450. If Bitcoin surpasses $106,800, it could rise to $107,500 or higher.
If it fails to maintain above $106,000, further declines could occur, with supports at $104,500 and $104,200, potentially falling to $102,500 or $101,200. Technical indicators show the MACD losing pace in the bullish zone and the RSI below 50, indicating bearish momentum is possible.
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