Bitcoin (BTCUSD) has experienced a downward bounce after reaching the $108,350.00 area, breaking the intraday bullish channel’s support line. This signals a temporary bearish correction, with the next target being $103,000.00. If this level is breached, the price may drop further to $101,365.00.
Thus, the bearish bias is expected to prevail for today. However, if Bitcoin breaks above $105,935.00, it will halt the expected decline and likely resume its main bullish trend.
Expected Trading Range for Today:
Support: $102,000.00
Resistance: $106,500.00
Trend Forecast: Bearish
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