Bitcoin's price has dipped over 1% in the past 24 hours, currently trading near $108,200, as sellers halted a potential breakout. On-chain indicators, such as the MVRV Z-Score and Spent Coins Age Band, suggest diminishing selling pressure, with long-term holders retaining their positions. Technical patterns, including a falling wedge and bullish RSI divergence, point to a possible reversal if Bitcoin surpasses $111,500. However, a decline below $107,500 could delay this upward movement, and a fall under $103,500 would negate the bullish outlook.