Bitcoin price outlook: BTC is trading near $108.5K with oversold momentum—RSI ~33.8—suggesting a likely short-term relief bounce to $114K–$116K if $107K–$108K support holds; a drop below $107K raises the risk of a deeper move toward $98K–$100K.
RSI near oversold at 33.81 suggests waning selling pressure and a possible rebound.
Key support: $107K–$108K; strong downside band: $98K–$100K; resistance near $112.2K and $114K–$116K.
On-chain realized price bands show $112,200 resistance and $98,700 support, crucial for short-term direction.
Bitcoin price outlook: BTC near $108K with oversold signals; watch $107K support — read actionable levels and short-term targets now.
Bitcoin faces pressure near $109K as analysts note oversold signals, $107K support, and on-chain bands for the next decisive move.
- Bitcoin shows bullish divergence with RSI near oversold, raising chances of a rebound toward $114K–$116K if support holds.
- Analyst Javon Marks sees potential for a reversal to $123K, while Cas Abbé flags $98K–$100K as the next strong support.
- On-chain realized price bands show $112.2K resistance and $98.7K support, crucial levels for Bitcoin’s short term outlook.
Bitcoin is at a key point as analysts weigh potential recovery targets against growing downside risks. At the time of writing, BTC was priced at $108,480 having declined from fresh highs around $118,000.
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Bitcoin price outlook shows near-term uncertainty: momentum indicators signal oversold conditions, increasing the chance of a relief bounce to $114K–$116K if $107K–$108K support holds. A confirmed breakdown under $107K would open the path toward $105K and potentially $98K–$100K.
The RSI sits at 33.81, placing BTC near oversold territory and implying sellers may be losing momentum. The MACD histogram remains negative but is contracting, which aligns with reduced bearish pressure.
These conditions create a bullish divergence against lower lows in price, often preceding a corrective rally. If momentum reverses, short-term targets of $114K–$116K become reachable; failure to hold $107K risks a move to $104K–$105K and then toward the $98K–$100K band.
Realized price bands highlight where long-term holders and previous transaction cohorts stabilize price. The current realized upper band near $112,200 acts as immediate resistance, while the lower realized level around $98,700 serves as a stabilizing support during sizable corrections.
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Source: https://en.coinotag.com/bitcoin-could-test-107k-support-as-oversold-signals-and-on-chain-bands-suggest-possible-rebound-to-114k-116k/