Bitcoin is currently trading within a well-defined range between $92,000 (support) and $108,000 (resistance). After a strong rejection from the lower boundary, BTC has bounced back toward $100,000, showing signs of recovery.
If price sustains above $98,000-$100,000, BTC could push toward the upper resistance zone at $108,000. However, failure to maintain bullish momentum may result in another retest of $92,000 support, with a potential breakdown leading to further downside.
Traders should watch for a clear breakout above $108,000 for bullish continuation or a break below $92,000 for a deeper correction.
If price sustains above $98,000-$100,000, BTC could push toward the upper resistance zone at $108,000. However, failure to maintain bullish momentum may result in another retest of $92,000 support, with a potential breakdown leading to further downside.
Traders should watch for a clear breakout above $108,000 for bullish continuation or a break below $92,000 for a deeper correction.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.