Techical Analysis for BTC

Bitcoin is trading around $107,183, extending its corrective phase after repeated rejections above $120,000. Price has now slipped below the 0.618 Fibonacci retracement ($108,980) and is testing the key support zone around $104,000 – $106,000, which also aligns with the 0.786 Fib and prior accumulation area (highlighted in blue).

🕯️ EMA Overview

20-day EMA: $114,445

50-day EMA: $114,748

100-day EMA: $113,227

200-day EMA: $108,048

BTC is currently below all major EMAs, signaling short-term and medium-term bearish momentum.
The 200-EMA near $108,000 is being tested; a decisive close below it could invite deeper correction.

🔹 Key Support Levels

$108,000 – $107,000: 200-EMA zone (being tested)

$104,400 – $105,000: 0.786 Fib & prior demand zone

$98,200: Major swing low and full retracement level

🔸 Key Resistance Levels

$108,980: 0.618 Fib & 200-EMA retest zone

$111,000 – $112,300: Horizontal resistance & 0.5 Fib

$114,700 – $115,600: EMA cluster + 0.382 Fib

$119,700: 0.236 Fib and breakdown point

📈 RSI (14)

RSI currently at 35.9, signaling near-oversold conditions — momentum favors bears but could attract dip buyers soon if BTC holds above $104K.

⚙️ Outlook Summary

Trend: Bearish short-term, neutral long-term

Momentum: Weak, oversold approaching

Bias: Watching for potential bounce from $104K–$106K support zone

Invalidation: Breakdown below $104K could expose $98K next

🔹 Summary:
BTC remains under pressure after breaking below key EMAs and the 0.618 Fib support. Bulls need to defend the $104K–$106K area to avoid further downside. A rebound above $112K would signal early recovery momentum, while a drop under $104K opens the door to $98K.

$BTC
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