Bitcoin's price has recently retreated to $105,250 after failing to surpass the $109,000 resistance mark. Analysts are predicting a potential drop towards $104,500 and possibly $100,000 if the current downtrend continues. The moving averages indicate a slight advantage for buyers, but the relative strength index (RSI) suggests weak bullish momentum. A failure to hold above $104,500 may lead to a decline into a bearish descending triangle pattern. Conversely, a rebound above the moving averages could push the price above the downtrend line, paving the way for a challenge of previous all-time highs around $111,980. Overall, traders need to be cautious as the market appears to be consolidating amid profit-taking by short-term investors. The outcome hinges on whether buyers can defend crucial support levels or if bears regain control, resulting in significant price drops.

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