Bitcoin price today is trading around $110,459, down about 0.55% over 24 hours, showing short-term bearish momentum after a failed breakout near $111,902. Immediate support sits at $109,683, with risk of a deeper correction to $108,000–$109,000 if daily closes remain weak.
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Short-term outlook: failed breakout at $111,902, immediate support at $109,683.
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Daily momentum favors a pullback; watch the weekly close near $107,389 for trend confirmation.
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Market snapshot: BTC -0.55% (24h); current price ~$110,459; potential test of $108k if sellers persist.
Bitcoin price today: near $110,459, down 0.55% with support at $109,683. COINOTAG provides chart-driven analysis and actionable short-term levels.
Publication date: 2025-10-16 | Updated: 2025-10-16 | Author: COINOTAG
The prices of most major cryptocurrencies are showing declines, though a few tokens buck the trend, according to CoinStats. Market structure on hourly and daily charts points to cautious positioning among traders, with clearly defined short-term support and resistance levels that define the near-term risk.
Top coins by CoinStats
What is the Bitcoin price today?
Bitcoin price today is approximately $110,459, reflecting a 0.55% decline since yesterday. Price action shows a short-term bearish bias after a failed breakout above the local resistance at $111,902, with immediate support observed at $109,683 on higher timeframes.
How is Bitcoin performing on intraday and daily charts?
On the hourly chart, BTC reversed after a false breakout of the $111,902 level and is retracing toward the $109,000 area. Daily data indicate the coin tested support at $109,683; a close at or below that level would increase the likelihood of a correction into the $108,000–$109,000 range. CoinStats and TradingView chart feeds were reviewed for this technical context.
BTC/USD
The rate of Bitcoin (BTC) has fallen by 0.55% since yesterday. Price action suggests sellers regained control after the intraday rejection above resistance, putting emphasis on short-term support levels for traders and risk managers.
Image by TradingView
Intraday momentum shows that the failed breakout near $111,902 exhausted upside attempts and opened the path for a pullback. If the situation remains unchanged by the end of the trading day, the market could see further pressure toward the $109,000 mark as stop orders and near-term profit-taking materialize.
Image by TradingView
On the longer time frame, BTC tested the $109,683 support. A daily candle closing at or below that support would signal loss of short-term directional conviction and could lead to a deeper test of the $108,000–$109,000 band. Weekly structure remains a key reference: failure to hold weekly support near $107,389 would imply greater downside risk toward the $100,000 area.
Image by TradingView
From a midterm perspective, there are no confirmed reversal signals. Traders should monitor volume, candle closes on daily and weekly charts, and put-call skew where available to gauge conviction. At press time, Bitcoin is trading at $110,459.
Frequently Asked Questions
Will Bitcoin drop to $108,000 in the short term?
A short-term drop to $108,000 is plausible if daily candles close below $109,683 and selling pressure continues. Confirmations would include increased volume on down moves and a weekly close beneath $107,389; absent those signals, the move may be a temporary retracement.
How should I set stop-loss levels for BTC positions?
Use structure-based stops: for long positions, consider a stop slightly below $109,683 or the $108,000 support band depending on risk tolerance. For shorts, a stop above $111,902 invalidates the recent rejection and signals potential regained upside.
Key Takeaways
- Immediate resistance: $111,902 — recent false breakout indicates sellers active at that level.
- Immediate support: $109,683 — daily close below this level raises chances of testing $108k.
- Risk management: Monitor daily/weekly closes and volume; adjust stops to structure to limit downside exposure.
Conclusion
This COINOTAG market update finds Bitcoin price today showing short-term weakness after a failed breakout at $111,902 and testing support at $109,683. Traders should watch daily and weekly closes for confirmation; risk managers should align stops with the $108,000–$109,000 band. For ongoing coverage and updated levels, follow COINOTAG market briefs and chart updates.
Sources: CoinStats (data), TradingView (chart snapshots). Expert commentary: COINOTAG market analyst Elena Hart.
