BTC Loses Key Support as Traders Watch $105K Zone
Bitcoin (BTC/USD) slipped to around $107,900, marking a decline of over 4% in the last 24 hours, as the leading cryptocurrency struggles to hold above a key support zone. The move reflects heightened volatility, with sellers gaining momentum after BTC failed to sustain levels above $112,000.
The chart indicates that BTC recently rejected from the $122,000 resistance zone, forming a descending channel pattern. This pullback has pushed the price back into the $108K–$110K support area, a critical region that traders consider a line of defense for bulls.
“The $108K level is now a crucial battleground,” said BITX market strategist. “If Bitcoin closes below this zone, it could pave the way for a retest of $105K or even $100K in the near term. However, a recovery above $112K would quickly shift momentum back in favor of buyers.”
The chart highlights multiple demand zones below the current price. The green support band around $108K remains the first key level, followed by a deeper cushion near $100K. A more significant decline could bring BTC back toward the $92K–$95K area, where historical buying interest has been strong.
Meanwhile, upside resistance is clearly defined. The $120K–$122K zone has repeatedly acted as a ceiling, with sellers defending it aggressively. A confirmed breakout above this range would likely fuel a move toward $130K.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.