Bitcoin (
BTCUSDT) continues to maintain its bullish structure, now trading around $106.6K. While price action looks strong, the market is approaching a key resistance zone between $110K–$120K, with technical signals hinting at a possible short-term rejection before further upside.
🔍 Technical Overview
Current Price: $106,654
Resistance Zone: $110K – $120K
Support Zone for Pullback: $98K – $100K
200 EMA & 100 EMA: Still trending up and providing strong base support
The chart suggests a potential "rejection-retest-rally" structure forming, where BTC may temporarily pull back before making a fresh push toward new highs.
📊 Momentum & Indicators
Stochastic RSI on the daily timeframe recently bottomed and is starting to curl back up — a potential bullish shift in momentum
Volume remains stable — no signs of aggressive distribution or FOMO activity yet
💬 Sentiment & Structure
The current structure remains healthy, with HH-HL (higher high - higher low) formation intact. Market sentiment is optimistic but not yet euphoric, which is ideal for continued accumulation.
Short-term traders may look for a pullback opportunity near the $98K–$100K zone before re-entering.
🎯 Mid-Term Outlook
If BTC holds the $98K–$100K range during a pullback, it could act as a springboard toward the $120K target in the coming weeks.
✅ Summary
🔵 Bullish trend intact
📉 Possible short-term pullback before breakout
📈 Mid-term target remains: $120K
🚫 Avoid chasing breakouts — position wisely at key supports
Let the price come to you. Patience pays more than FOMO.
BTCUSDT) continues to maintain its bullish structure, now trading around $106.6K. While price action looks strong, the market is approaching a key resistance zone between $110K–$120K, with technical signals hinting at a possible short-term rejection before further upside.🔍 Technical Overview
Current Price: $106,654
Resistance Zone: $110K – $120K
Support Zone for Pullback: $98K – $100K
200 EMA & 100 EMA: Still trending up and providing strong base support
The chart suggests a potential "rejection-retest-rally" structure forming, where BTC may temporarily pull back before making a fresh push toward new highs.
📊 Momentum & Indicators
Stochastic RSI on the daily timeframe recently bottomed and is starting to curl back up — a potential bullish shift in momentum
Volume remains stable — no signs of aggressive distribution or FOMO activity yet
💬 Sentiment & Structure
The current structure remains healthy, with HH-HL (higher high - higher low) formation intact. Market sentiment is optimistic but not yet euphoric, which is ideal for continued accumulation.
Short-term traders may look for a pullback opportunity near the $98K–$100K zone before re-entering.
🎯 Mid-Term Outlook
If BTC holds the $98K–$100K range during a pullback, it could act as a springboard toward the $120K target in the coming weeks.
✅ Summary
🔵 Bullish trend intact
📉 Possible short-term pullback before breakout
📈 Mid-term target remains: $120K
🚫 Avoid chasing breakouts — position wisely at key supports
Let the price come to you. Patience pays more than FOMO.
Related publications
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.
Related publications
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.