Bitcoin Could Retreat Toward $109K–$108K After False Breakout, Weekly Close May Signal Risk to $100K

  • Short-term outlook: failed breakout at $111,902, immediate support at $109,683.

  • Daily momentum favors a pullback; watch the weekly close near $107,389 for trend confirmation.

  • 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.

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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.

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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.

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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.

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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.

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