Bitcoin Breaks Down Again — Bearish Momentum Intensifies Across Crypto Market

Bitcoin's price is declining again, falling below $110,000 and entering a bearish zone. The price faces resistance at $109,800, indicated by a bearish trend line forming on the hourly chart. It is trading below $109,000 and the 100-hour Simple Moving Average, suggesting further downward movement. If the price fails to surpass the $109,800 resistance, it might continue its decline. Immediate support lies near $107,400, with major support at $106,500. A break below $105,500 could push the price towards $104,200 and potentially $103,500. If Bitcoin attempts a recovery, it will encounter resistance near $109,500, followed by $109,800 and $110,500. Overcoming $110,500 could lead to tests of $111,200, $113,500, and potentially $115,000 to $115,500. Technical indicators suggest bearish momentum, with the MACD gaining pace in the bearish zone and the RSI below 50.