Bitcoin Holds Key Support Amid Inflation Watch De

Bitcoin Holds Key Support Amid Inflation Watch

Despite a slight 1.4% dip in the last 24 hours, Bitcoin price prediction remains technically supported. Trading near $108,610, the two-hour chart reveals BTC sitting atop a confluence of supports: the 50-EMA ($108,123), ascending trendline, and the 0.382 Fibonacci retracement at $108,595.

Candlestick action shows indecision, with repeated rejection near $109,355 and $110,574. The MACD has turned bearish, with a widening gap, suggesting further weakness. However, bulls still have a case: so long as BTC holds above $108,100, a rebound remains possible.

Short-Term Trade Setup:

• Entry: Above $108,800 (bullish candle confirmation)
• Stop-loss: Below $107,950
• Target 1: $109,355
• Target 2: $110,574