Technical indicators show the hourly MACD losing momentum in the bullish zone and the RSI below the 50 level, suggesting potential selling pressure.

Geopolitical tensions, particularly related to the Middle East and the US-China trade situation, are complicating Bitcoin's price trajectory, as noted by trading firm QCP Capital.

Bollinger Bands are a widely used trading tool that helps assess volatility, and a narrowing of these bands often precedes significant price movements in Bitcoin and the broader crypto market.

Recent analysis of Bitcoin's price movement reveals a 'W-shaped' double bottom formation, followed by three successive upward pushes, each reaching the upper Bollinger Band before encountering resistance.

However, Bitcoin's recent price actions indicate a potential end to its local uptrend after several rejections at the upper Bollinger Band near $110,000, as noted by John Bollinger.

Currently, Bitcoin is trading above $107,500 and the 100-hour simple moving average, with immediate resistance near $109,250 and key resistances at $110,000 and $110,500.

Should Bitcoin break the $110,500 resistance, it could aim for the $112,000 and $115,000 resistance levels, but continued downward trends may prompt traders to focus on critical support levels for potential rebounds.

Current market conditions present multiple challenges for Bitcoin bulls, including upper Bollinger Band resistance and large blocks of seller liquidity positioned between the current highs and $120,000.

The current price dynamics indicate a critical juncture for Bitcoin's upward trend, making it essential to monitor resistance and support levels to forecast its future direction.

Despite these challenges, QCP Capital highlighted Bitcoin's resilience, pointing to ongoing institutional demand amid market uncertainty and volatility.

Since April 2025, Bitcoin has rebounded from lows near $75,000, displaying a classic uptrend characterized by three distinct pushes higher, each followed by a consolidation phase.

John Bollinger emphasized that the confirmation of three pushes indicates the end of the previous trend, suggesting a possible reversal or consolidation period ahead.