Technical Outlook: Bitcoin (BTC) Holds Above Key Support, Eyes Recovery

BTC trades around $109,900, holding slightly above the Fib 0.382 retracement level at $108,980 after a volatile correction earlier in the week.
Buyers continue to defend the $105,000–$104,400 zone — a critical confluence of the 0.236 Fib, 200-day EMA, and a historical demand area.

A rebound from this base could push BTC to retest the 50-day EMA near $112,700 and the Fib 0.5 zone at $112,291. A sustained breakout above $113,440 (100-day EMA) would strengthen bullish momentum, paving the way toward $115,600 (Fib 0.618) and possibly $120,300 (Fib 0.786) in extension.

However, failure to hold above $108,000–$104,000 could expose the market to deeper losses, targeting $98,000–$97,500, where the next key support cluster lies.

The RSI (44.7) is gradually recovering from oversold territory, showing early signs of a potential bullish reversal if buying pressure persists.

📊 Summary

Trend: Neutral → Bullish bias if above $108,000

Support: $108,000 / $104,400 / $98,000

Resistance: $112,700 / $113,440 / $115,600

Bias: Bullish above $112,700, bearish below $108,000

$BTC
#BTCPriceAnalysis