Bitcoin's price has pulled back, encountering resistance near $108,300 and support between $106,700 and $107,000. A brief surge to $107,671 was followed by a sharp reversal. Technical analysis indicates Bitcoin is in a compression zone between fair value gaps, with a potential move towards $112,000 if bulls reclaim $109,000-$110,000, or a drop to $106,000 if support breaks. The short-term trend appears bearish, suggesting further consolidation before a clear directional move.

Prepared by Christopher Adams and reviewed by editorial team.