Bitcoin price is trading near $110,830 at press time, consolidating around the $110,600–$111,000 zone after repeated defenses of the channel support. Traders are watching closely as technical compression, CME gap levels, and cautious inflows shape the near-term trajectory.
Bitcoin Price Holds Channel Support
The daily chart shows BTC moving within an ascending channel that has defined structure since April. The lower boundary at $110,600 aligns near the 20-day EMA, while immediate resistance stands at $113,000, marked by the 50-day EMA.
Fibonacci retracement levels highlight $117,300 (0.618) and $120,050 (0.786) as critical breakout targets if momentum turns higher. On the downside, $107,300 remains the first key support, with the 200-day EMA near $104,400 acting as the long-term floor. Momentum indicators reflect a bearish trend with the RSI at 44.
CME Gap at $110,680 Draws Market Attention
Market focus has turned to the unfilled CME gap at $110,680, highlighted by analyst Crypto Rover. This l…
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