Bitcoin Struggles to Hold Key Support Levels
Bitcoin isn’t having the best week. After failing to push past $110,500, the price took a sharp turn downward, slipping below $107,500 and then $105,500. Now, it’s hovering just above $103,000—a level that’s starting to look shaky.
The drop wasn’t exactly sudden, but it was fast enough to catch some traders off guard. At one point, BTC even dipped below $104,200 before finding a temporary floor around $103,000. The problem? There’s not much buying momentum to lift it back up.
Where’s the Resistance?
Right now, Bitcoin is stuck below the 100-hour moving average, which isn’t a great sign. There’s also a stubborn trend line forming around $106,600—if you’re looking at hourly charts, that’s the wall BTC needs to break through.
For any real recovery, $105,500 is the first hurdle. If it somehow clears that, the next test is $106,600, which lines up with the 50% retracement level from the recent high of $110,273 down to $103,078. A close above that might open the door to $108,000, maybe even $110,000. But that’s a big “if.”
What If the slide continues?
If Bitcoin can’t claw its way back above $105,500, things could get worse. The immediate support is $103,000, but if that gives way, $102,350 is the next stop. Below that, $101,500 and $100,500 come into play. And if $100,000 fails? Well, that’s when the bears might really take over.
The technicals aren’t helping much. The MACD is still in bearish territory, and the RSI is sitting below 50—neither suggests a turnaround is coming soon.
So, what’s next? Traders seem split. Some are waiting for a break above $106,600 to call a bottom, while others are bracing for another leg down. Either way, Bitcoin isn’t out of the woods yet.
