Bitcoin price analysis: Bitcoin (BTC) is trading near $108,659 and showing short-term weakness with possible sideways action between $108,000–$111,000; a decisive hourly close above $108,663 would suggest continuation toward $110,000.
BTC short-term range: $108,000–$111,000
Hourly resistance to watch: $108,663; daily structure shows false breakout risk.
Current price data sourced from CoinStats; chart references from TradingView.
Bitcoin price analysis: BTC trading near $108,659 with key resistance at $108,663—see levels, risks, and next targets. Read the full technical outlook.
What is the Bitcoin price analysis today?
Bitcoin price analysis indicates BTC is trading at $108,659 with short-term downward pressure but likely sideways action. A clear hourly close above $108,663 would support a push toward $110,000, while failure to hold support could bring a test of lower levels. Data: CoinStats, TradingView.
The rates of some coins are rising today while others are in the red zone, according to CoinStats.
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On the hourly chart, BTC is approaching a local resistance at $108,663. If the hourly bar closes above that mark, momentum could push prices toward the $110,000 zone. TradingView chart signals show a near-term breakout scenario contingent on that hourly close.
On the daily timeframe, Bitcoin experienced a false breakout of yesterday’s bar low. That setup suggests buyers may need additional accumulation time before a sustained move higher. Risk management remains critical as daily price action lacks clear reversal confirmation.
From a midterm perspective, BTC’s rate has softened following the previous bullish daily bar. No reliable reversal signals are present, so traders should anticipate a potential test of nearby support levels.
In this case, sideways trading in the range of $108,000–$111,000 is the more likely scenario.
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Source: https://en.coinotag.com/bitcoin-may-remain-range-bound-near-108000-111000-amid-resistance-tests/