Bitcoin is struggling to regain momentum after falling below the $106,200 resistance, remaining under pressure from sellers and showing consolidation.
Price Consolidation of Bitcoin
The recent decline from a high of **$108,924** saw Bitcoin break below several support levels, including **$108,000**, **$107,000**, and **$106,000**. The price dipped to test the **$103,400–$103,500** support zone before attempting a slight rebound.
Resistance and Support Levels
Resistance remains capped at **$105,500**, while the **$105,200–$105,500** range is the immediate hurdle. A successful breakout could push the price towards **$106,150**, aligning with the **50% Fibonacci retracement** of the move from **$108,924** to **$103,400**. If bulls can close above this level, the next significant resistance lies at **$108,800**, followed by the psychological mark of **$110,000**.
Technical Indicators and Market Outlook
With **BTC trading at approximately $105,400**, the current structure shows indecision. Major technical indicators, such as the **hourly MACD** and **hourly RSI**, are indicating losses and hovering near neutral levels. Failure to clear **$105,500** could lead to further declines starting from **$104,200** and potentially down to **$102,650**.
Under the current circumstances, Bitcoin faces resistance and is expected to continue consolidating until investors see clarity from macroeconomic factors.
