Bitcoin continues to be in a corrective phase, according to TradingView data. At the time of writing, its value is hovering just below the $108,000 mark. The market is still dominated by sellers, and trading volumes suggest that while the downward pressure is slightly easing, it persists.

Bitcoin continues in correction and buyers are losing control

Despite occasional attempts to recover, every minor price increase is immediately suppressed. The nearest monitored support level is in the range of $103,000 to $106,000. This zone was already tested on October 17. If this support remains valid, the price should bounce from this area upwards.

However, the market is behaving differently. Every attempt to rise is halted, followed by renewed selling pressure. This indicates that trader sentiment remains predominantly negative and the likelihood of further decline is increasing.

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BTC could head down to $96,000

Within the current price structure, analysts are focusing on the range between $93,000 and $99,000. This is where significant trading volumes have previously accumulated. The strongest point of this range is $96,000, which could act as technical support in the short term. A drop in Bitcoin to this level would mean a further decline of over 10% from the current price.

This scenario appears more likely if buyers fail to regain market control. Current weak volumes and the absence of strong impulses indicate that the market remains defensive.

Until a convincing buying signal appears, most traders are likely to remain cautious. Bitcoin may continue to weaken in the coming days, while long-term investors observe whether price stabilization occurs near $96,000.