Bitcoin Sell-Off Continues — Downside Momentum Builds Across Crypto Market

Bitcoin has initiated a downward trend, falling below the $109,000 support and entering a bearish zone. The price is currently below $108,000 and the 100-hour Simple Moving Average, indicating potential further decline. A bearish trend line is forming with resistance at $109,400, suggesting limited upward movement. Failure to surpass the $108,800 resistance could lead to continued losses for Bitcoin. Immediate support lies near $106,200, with major support at $105,500 and a critical zone at $105,000. If Bitcoin breaks below $105,000, it may target $104,200, with a strong support at $103,500. Upside recovery faces resistance at $108,800 and the trend line near $109,500. Overcoming $109,500 could propel Bitcoin toward $110,000 and potentially $111,500. Technical indicators like the MACD and RSI support the bearish outlook.