Bitcoin is currently showing signs of weakness near the $107,000-$109,000 resistance zone (highlighted on the chart).
Price is starting to move down after multiple rejections at this level, forming a potential lower high.
Current price is around $106,890, and bearish momentum is starting to build.
🎯 Target Point Analysis:
📍 Resistance Zone: $107,000 – $109,000
Strong supply area where price has been rejected multiple times.
Sellers are clearly active in this zone.
📍 Target Point (Support Zone): $103,000
Identified as a key horizontal support level.
If price breaks below $106,000, it could trigger a move toward this target.
Historically, this level has acted as a base for previous bounces.
📈 Conclusion:
Bias: Bearish in the short term unless price reclaims $109,000 with strength.
If the downtrend continues, the next key support and target level is $103,000.
A clean break below $106,000 may accelerate the move toward this zone.
