Bitcoin is in a descending channel since mid-August, with support at $108,400 and resistance at $111,000. The RSI sits around 30, brushing oversold territory, while the MACD histogram remains negative. A breakout above $111,000 could flip momentum, paving the way toward $113,650 and $116,850, with the next target at $120,250. Failing to hold $107,800 risks deeper losses, potentially reaching $105,150 and $101,500 at the channel floor. The play is bullish above $111,000, bearish below $107,800.