Bitcoin Sees Key $107k Rejection: Watch These BTC Price Support...

Bitcoin failed to find support at $107,000 as its rebound stopped short of a bull market comeback; analysis warned of new “OG selling pressure” to come.

Bitcoin tries and fails to conquer $107,000, an important local level for traders.

BTC price forecasts retain the possibility of the market falling back under $100,000.

Bitcoin bulls need a perfect storm to move toward all-time highs, analysis concludes.

Bitcoin (BTC) eyed its new weekend futures gap on Tuesday as talk turned to a BTC price “rejection.”

Data from Cointelegraph Markets Pro and TradingView showed bulls failing to reclaim key support overnight.

Despite hitting new November highs of $107,465, BTC/USD was unable to retain those levels, instead threatening to print a double top structure on the hourly chart.

Among traders, the inability to reclaim $107,000 was now a key detail.

“$BTC got rejected from the $107,000-$108,000 resistance level,” crypto investor and entrepreneur Ted Pillows wrote in a post on X.

Pillows noted that the latest “gap” in CME Group’s Bitcoin futures market was still below the spot price.

Source: CoinTelegraph