Bitcoin Closes at $104,700 After Rejecting Sub-$100,000 Dips; $109,400 Fibonacci Resistance Next

Bitcoin Magazine Bitcoin Closes at $104,700 After Rejecting Sub-$100,000 Dips; $109,400 Fibonacci Resistance Next

While the bears dominated price action early last week, the bulls managed to show strong support below $100,000. Bitcoin price dropped briefly below $100,000 on Tuesday, Wednesday, and Friday, but buyers stepped in each of those days to push the price back above $100,000, avoiding a daily close below this key level. A small weekend rally allowed the bitcoin price to reclaim the $104,000 support, closing at $104,700. Heading into this week, look for the $109,400 resistance level to keep a lid on things, with $111,000 looking like strong resistance if the price can go beyond there.

Key Support and Resistance Levels Now

The weekly 55 EMA at $99,000 provided strong support each