Bitcoin Price Stagnates Bearish Pressure Builds

Bitcoin Price Faces Short-Term Bearish Pressure Below $105,000

• Bitcoin tested the $105,000 resistance zone before correcting gains.
• The price is trading below $103,800 and the 100 hourly Simple Moving Average.
• A break occurred below a bullish trend line with support at $103,600 on the BTC/USD hourly chart.
• Immediate resistance levels are near $103,600 and $104,200.
• Major support levels are at $102,850 and $101,750.

Bitcoin’s recent surge to nearly $105,000 has been followed by a correction below key resistance levels. The price remains under pressure as it trades below the 100 hourly SMA and faces immediate resistance at $104,200.