Bitcoin Faces Challenges at $108,350
Bitcoin is struggling at the $108,350 mark. This resistance zone is proving tough to crack. The price has been stuck here for a week. It’s a critical level, matching the top of the current trading range.
Here are the key points to watch:
- $108,350 is a strong resistance level.
- A bearish divergence is forming, with the RSI weakening.
- Volume is declining, indicating less buying interest.
Traders should monitor these levels closely. If Bitcoin can’t break $108,350, it may fall to $100,960. This lower level is a key support zone. A drop here would confirm the bearish trend.
For more insights,check the BTC/USDT 4H Chart on tradingview.
However, if Bitcoin surges past $108,350 with strong volume, it could signal a bullish shift. This would invalidate the current bearish setup.Traders should stay alert for any changes in volume and price action.
