Bitcoin Eyes Critical Support at the 108k Hover

If you’re tracking Bitcoin’s price action, you’re witnessing a pivotal moment. BTC is currently trading near $108,067, testing a crucial technical threshold that could determine the trajectory of your portfolio in the coming days.

Why This Level Matters to Your Investment

Bitcoin has completed a three-day decline, marking its lowest daily close since early July. You’re now watching price action unfold at the 200-day Exponential Moving Average—a line in the sand that often separates bullish trends from deeper corrections. This convergence with the S1 Pivot Point at $108,235 creates a double layer of support that deserves your attention.

The Downside Scenario You Should Prepare For

If Bitcoin closes decisively below current support levels, you should be prepared for potential downside movement toward $102,422. This S2 Pivot Point represents the next significant technical floor where buyers might step in.

Technical momentum indicators are painting a cautionary picture for your near-term outlook:

The Moving Average Convergence Divergence shows expanding red histogram bars, signaling intensifying selling pressure. Meanwhile, the Relative Strength Index sits at 37—still above oversold territory at 30, but trending lower. Any additional red candles today could push this indicator into oversold range, potentially signaling exhausted selling or further weakness ahead.

Your Upside Targets If Support Holds

Should Bitcoin find footing at the 200-day EMA, your first resistance target lies at $113,067. This level aligns with both the central Pivot Point and the 100-day EMA, creating a meaningful technical barrier that could cap any relief rally.

However, you should note that a sustainable bounce from current levels would likely require a catalyst—whether that’s favorable macro news, institutional buying, or broader market strength. Without such a trigger, the path of least resistance may continue to point lower.

What This Means for Your Position

You’re facing a decision point. The current price action demands attention to risk management and clear invalidation levels for any positions you hold or consider taking.