Bitcoin 1-Hour Chart: Quick Market Breakdown

BTC is trading within a well-defined ascending channel, with the price currently at $97,400, after breakout and retest of weekly high resistance around $95,800. The channel’s upper boundary projects a potential target of $104,000 if BTC continues to move upward over the week!

Key resistance levels to watch are $98,000 and $100,000, while support lies at $96,200 and the channel’s lower boundary at $95,000.

A breakout above $100,000 could ignite a rally toward $104,000, but if BTC fails to hold support at $96,000, we might see a dip back to $94,400-93,000.



Key Levels to Watch:

Resistance: $100,000, $98,000
Support: $96,000, $94,000
Breakout Target: $104,000+
Breakdown Risk: $93,000

Will BTC soar to new heights, or are we in for a pullback? Let’s hear your thoughts below!