Bitcoin Price Retreats After Reaching New All-Time High of $109,112
Bitcoin Price Update
- Bitcoin began a correction after reaching an all-time high of $109,112.
- Current trading is below $104,500 and the 100 hourly Simple Moving Average.
- Resistance is forming at $104,000, with key support at $100,000.
- The price dipped to $100,114 but is now attempting to rise.
- A clear break above $104,500 could lead to further gains towards $106,500 and potentially $109,500.
- If resistance at $104,000 holds, the price may decline towards $100,500 or lower to $96,500.
- Technical indicators show weakening bullish momentum; MACD is losing strength and RSI is below 50.
