Bitcoin Corrects, Faces Resistance Near $106K – Will It Rebound?

After surging past the $111,000 mark, Bitcoin has entered a corrective phase. While momentum has cooled off, analysts believe the current price pullback presents a potential buying opportunity for long-term investors. Technical analysis suggests the broader structure remains intact, with support at around $103,000 and resistance near the mid-range of the ascending channel. 200-day moving average sits just above $95,000. The future direction of Bitcoin hinges on whether it can reclaim key resistance levels.