Bitcoin (BTC) Price Prediction: Breakout or Breakdown Next?

Bitcoin price today is trading around $107,800, holding just above its short-term support after a volatile weekend. The token’s correction from its August highs near $118,000 has lasted longer, with sellers keeping the pressure on as whales move their holdings and spot outflows speed up.

The decline comes amid a $215 million Bitcoin selloff linked to a major holder who shifted into Ethereum, a move that sparked debate about institutional positioning. At the same time, Coinglass data shows BTC exchange netflows turning negative by $151 million on September 1, underlining persistent selling.

With technicals pressing into key support at $107,000 and macro chatter about an extended bull run later this year, Bitcoin sits at a pivotal inflection point.

Bitcoin Price Holds Firm at Descending Resistance

A descending trendline from mid-August continues to constrain Bitcoin price action on the 4-hour chart, with multiple rejections reinforcing $109,000–$110,000 as significant resistance. Immediate support lies at $107,000, with a breakdown exposing deeper bids toward $105,000.

Exponential moving averages cluster tightly ov…

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