Bitcoin Price Struggles to Maintain Above $110,500 Support Level
Bitcoin Price Analysis
- Bitcoin is consolidating below $111,000 after a recovery attempt above $110,500.
- The current price struggles to remain above the $110,000 level, with support forming at $110,500.
- Recent peak was near $113,500 before a decline tested the $110,039 low.
- Immediate resistance levels are at $111,250 and $112,580, with a critical resistance at $112,000.
- If Bitcoin fails to surpass $112,000, it may decline toward $110,000 or lower.
- Major support levels identified at $110,500, $109,350, and $107,500.
Technical indicators show weakening bullish momentum, with MACD losing pace and RSI below 50.