Bitcoin price has fallen ~3.14% and is testing the $110,000 support zone; a decisive weekly close below this level could open a path toward $105,000, while short-term ATR exhaustion suggests limited immediate volatility.
BTC down ~3.14%, testing $110,000 support
Short-term ATR indicates subdued sharp moves over the next 24 hours
Weekly close below $110,000 raises probability of a test of $105,000
Bitcoin price drop: BTC falls ~3.14% toward $110,000 support; monitor weekly close and ATR for downside risk to $105k. Read analysis and key takeaways now.
A new week has begun with a broad correction across major cryptocurrencies, according to CoinMarketCap data referenced as plain text. Market participants are watching short-term indicators and weekly closure levels for directional clues.
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What is happening to BTC/USD?
Bitcoin price has decreased roughly 3.14% in the last 24 hours, bringing BTC into the immediate support zone near $110,000. Short-term volatility appears muted as the Average True Range (ATR) indicates most intraday movement has already occurred.
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On the hourly timeframe BTC is holding near local support at approximately $110,893. With the ATR largely expended, the likelihood of sharp intraday moves is lower, making range-bound price action more probable over the next 24 hours.
The following chart context is preserved below.
On higher timeframes the structure is bearish: BTC is near a key support at $110,432. If that level fails, accumulated downside momentum could extend toward the $105,000–$110,000 range. Market structure and weekly candle behavior are the primary risk signals.
From a midterm perspective the interim zone of $110,000 is decisive. A weekly close below that zone historically increases the probability of deeper retracements; traders should watch orderflow around $110k and confirm with volume and momentum indicators.
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Source: https://en.coinotag.com/bitcoin-may-test-105000-if-weekly-close-drops-below-110000-support-after-3-correction/