Bitcoin is stabilizing around $110K after a corrective phase, with price action showing early signs of 0 the market is holding key support zones, momentum remains muted, and sentiment indicators like exchange reserves are pointing to long-term 1 Shayan The Daily Chart On the daily timeframe, BTC has broken below its ascending channel but found support near the $110K region, which aligns closely with the 100-day moving 2 RSI sits around 44, showing that momentum is weak but not in oversold conditions 3 suggests that the market is in a pause phase, waiting for either a rebound confirmation or a deeper 4 the buyers defend $110K successfully, the next resistance sits at $116K and then the $124K record high.
However, a breakdown below $110K could extend the decline toward the $104K demand zone, which has acted as a strong base in the 5 4-Hour Chart On the 4-hour chart, Bitcoin broke out of a steep descending channel but is now moving within a smaller rising 6 is currently retesting the $110K–$111K zone, which has become the key short-term 7 RSI is balanced around 49, reflecting market indecision and a lack of clear 8 this support zone holds, a push toward $114K is likely, where sellers could step in 9 the other hand, a clean drop below $109K would invalidate the short-term bullish structure and open the way for a deeper move toward the $104K demand zone previously 10 Analysis Exchange Reserve Exchange reserves continue to show a sharp and consistent decline, reaching multi-year 11 indicates that more Bitcoin is moving off exchanges into cold storage, a clear sign of long-term accumulation and reduced sell-side supply.
Historically, such drawdowns in reserves have supported bullish trends, even during corrective 12 steady outflow suggests that despite short-term volatility, investor conviction remains 13 fewer coins available on exchanges, the supply shock narrative strengthens, which could support a bullish reversal once demand picks up again.
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