The post Ohio News Offsets Fragile Technicals appeared on BitcoinEthereumNews.com.

Bitcoin price today trades near $109,000, defending channel support with $106,100 as the deeper risk zone. Ohio becomes the first U.S. state to accept Bitcoin for taxes, strengthening long-term adoption narratives. On-chain flows show $6.5M net inflow, while futures and options activity signal cautious positioning. Bitcoin price today is trading near $109,000, defending a key rising channel support while struggling below the $111,000–$113,000 resistance cluster. The market is torn between weakening momentum signals and a new adoption boost after Ohio confirmed it will accept Bitcoin for tax and government payments. Bitcoin Price Tests Channel Support BTC Price Key Technical Levels (Source: TradingView) The daily chart shows Bitcoin consolidating near the lower boundary of its rising channel, with immediate support at $108,000–$109,000. A breakdown from this area would expose the $106,100 level, marked by the 200-day EMA. Related: Cardano Price Prediction: ADA at $0.77 Support as Analysts Debate $10 Cycle Target On the upside, the 20-day and 50-day EMAs near $111,700–$113,400 remain heavy barriers. A sustained close above this zone would allow bulls to retest the 0.618 Fibonacci retracement at $117,300 and the 0.786 retracement near $120,000. The Relative Strength Index (RSI) is at 36, highlighting oversold conditions that could fuel a relief bounce. However, repeated failures to reclaim the EMA cluster show that bullish conviction remains fragile. Ohio Adoption Adds Fresh Catalyst Market sentiment was lifted by news that the U.S. state of Ohio will begin accepting Bitcoin payments for taxes and government services. The decision marks the first U.S. state to integrate Bitcoin in this way and strengthens the digital asset’s use case as a settlement currency. While the development boosts long-term adoption narratives, traders note that fundamental tailwinds have yet to override technical pressures in the short term. Analysts suggest that institutional players may wait for a clean…

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Filed under: News - @ September 26, 2025 6:28 pm