Bitcoin is struggling at a key support level. Last Friday, 146,000 BTC contracts expired, triggering $1.7 billion in liquidations (mainly longs), but BTC only dropped by less than 1%, indicating that bottom-fishing forces are still present.

From a technical perspective, the 4-hour chart shows the price approaching strong support at $108,000—the foundation of the previous low. If this level breaks, the target points to $105,000, which would form a lower low. However, the short-term stochastic RSI is already near the bottom, so a rebound opportunity may not be far off.

The daily chart is even more noteworthy: the 50-day moving average is about to cross below the 100-day moving average (a death cross signal), indicating a weakening long-term trend. The weekly chart shows that the 8-year uptrend line is being tested—after being rejected at $118,000 last time, if the $108,000 support is also lost, the price could fall to around $98,000 (where it converges with the uptrend line). The weekly stochastic RSI is also about to cross downward, suggesting that bearish momentum may expand.

This weekend could be a watershed moment for BTC.