Bitcoin price is showing short-term bearish pressure after a 2.55% 24-hour decline, with key support at $109,823-$110,000. If price closes below $109,620, expect testing of $109,000 and possibly a deeper move toward $105,000; traders should watch volume and closing prices for confirmation.
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Primary support: $109,823–$110,000 (watch closes)
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24‑hour decline: BTC down 2.55%—momentum favors sellers in the short term.
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Potential downside targets: $109,000 then $105,000 if support breaks; monitor volume and daily close.
Bitcoin price update: BTC down 2.55%, key support at $109,823—watch daily close and volume to act. Read actionable market insight now.
The end of the week is mainly bearish, according to CoinStats.
Top coins by CoinStats
What is the current Bitcoin price outlook?
Bitcoin price is under short-term bearish pressure after a 2.55% decline over the last 24 hours, trading near $109,254 at press time. The immediate focus is the $109,823–$110,000 support zone; a decisive close below $109,620 increases the probability of a test of $109,000 and lower targets.
How did BTC/USD move in the last 24 hours and what does that mean?
The rate of Bitcoin (BTC) has declined by 2.55% over the last day. CoinStats notes weakness across top-cap cryptocurrencies, and chart data from TradingView shows a false breakout on the hourly timeframe that favored sellers.
Image by TradingView
On the hourly chart, the price of BTC made a false breakout of local support. If selling pressure continues and the hourly/daily candle closes near $109,620, technical momentum suggests a near-term test of the $109,000 level.
Image by TradingView
On the longer time frame, BTC is approaching the $109,823 support. A confirmed daily close below that mark would clear a structural level and may open a path to the $105,000 area, based on measured move analysis and prior price consolidation ranges.
From the midterm point of view, there are currently no clear reversal signals. If bulls lose the interim zone of $110,000, traders could see a test of the $100,000–$105,000 range within the coming sessions. Bitcoin is trading at $109,254 at press time.
Why does a close below $109,823 matter for Bitcoin price?
A daily close below $109,823 represents a breakdown of a recent accumulation zone and shifts risk bias toward sellers. Volume confirmation on such a close would strengthen bearish conviction, while lack of volume may indicate a temporary intraday move. Traders should prioritize closing prices and volume over intraday wicks.
Frequently Asked Questions
What is the immediate support level for BTC/USD?
The immediate support zone is $109,823–$110,000. A confirmed daily close below $109,823 would increase downside probability toward $109,000 and $105,000 as subsequent targets.
How should traders manage risk during this pullback?
Use strict stops above $110,000, scale position sizes, and confirm entries with volume. Prioritize daily closes over intraday moves and monitor order-book liquidity on primary exchanges.
Key Takeaways
- Short-term bias: Bearish — BTC down 2.55% in 24 hours, sellers in control on lower timeframes.
- Critical level: $109,823–$110,000 — daily close below here validates downside.
- Actionable insight: Watch volume and closing price; set risk controls (stop-loss above $110,000) and consider targets at $109,000 and $105,000.
Conclusion
This snapshot shows the Bitcoin price under pressure with key support at $109,823. Market participants should focus on daily closes and volume to confirm directional bias. COINOTAG will continue to monitor price action and update guidance as verified data from CoinStats and chart providers becomes available.
