Bitcoin Hovers Near Critical $107K–$110K Support as Next Market Move Hangs in the Balance
Bitcoin (BTC) is consolidating near a key support range between $107,000 and $110,000, a zone that could determine whether the market stabilizes or experiences a deeper pullback. Following last Friday’s sharp sell-off, BTC’s recovery has been weak, keeping prices close to this pivotal level.
After dropping to nearly $105,000, Bitcoin staged a brief rebound to $116,000, but momentum quickly faded, with prices retreating to around $110,000 amid bearish signals from key technical indicators. The $107K–$110K range is reinforced by intraday highs from December–January and lows from September, making it a critical battleground between bulls and bears. The 200-day simple moving average (SMA), positioned near $107,500, adds further significance to this support zone.
If this level breaks, analysts point to the $98,330 swing low from June 22 as the next support, followed by the lower boundary of Bitcoin’s long-term ascending channel around $82,000.
Technical Risks Suggest Potential Pullback
Bitcoin has traded within a well-defined ascending channel since October 2023, but repeated tests of the channel’s upper boundary suggest overbought conditions and buyer exhaustion. Similar patterns occurred in December–January, when failed breakouts above resistance eventually led to a sharp decline to around $75,000.
While the broader uptrend since 2023 remains intact, the current consolidation signals heightened volatility. A decisive break below $107K would likely give the bears the upper hand, while a strong rebound above $116K could reignite bullish momentum and set the stage for a push toward all-time highs.
Traders are now closely watching the $107K–$110K support zone, as its fate will likely shape Bitcoin’s next significant move.
