Technical chart shows strong defense in the $108K–$110K zone, but resistance looms near $122K
Bitcoin (BTC) is holding firm above the $110,000 mark, despite persistent selling pressure in recent weeks. The 4-hour chart highlights a clear support zone between $108,000 and $110,000, which has been repeatedly defended by buyers. Analysts say this level could define Bitcoin’s short-term trend as traders await a decisive breakout.
The chart reveals that Bitcoin recently tested the lower boundary of a descending channel, only to rebound strongly back into the green support area. Volume spikes around these dips suggest that large buyers are accumulating at discounted prices.
On the upside, BTC faces resistance between $120,000 and $122,000, marked by a red supply zone. Unless Bitcoin breaks above this range, price action may remain choppy within the current downtrend channel.
 BITX market strategist noted, “Bitcoin’s ability to hold above $110,000 despite heavy shorting pressure shows underlying demand. The next test is whether bulls can push through $115,000 and reclaim momentum.”
Despite the rebound, the broader structure remains bearish, with descending trendlines capping price action since early August. Unless BTC clears this channel decisively, sellers could attempt another push toward $106,000.
However, many traders see the green demand zone as a “make-or-break” area. According to BITX crypto analysts, “As long as Bitcoin defends $108,000, the risk-reward favors accumulation. A daily close below this zone would open the door to deeper corrections toward $100,000.”
In summary, Bitcoin’s technicals show resilience at $110K, but the market is at a crossroads. A breakout above $115K–$120K could signal a reversal, while failure to hold $108K may trigger another wave of selling.
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.