Bitcoin at a Crossroads: Breakout or Pullback?

29 Oca

Hello, Traders!

After reaching new highs, Bitcoin is consolidating within the 92k-106k range.
BTC found strong support within the 89k-92k area and strong resistance at 104k-106k.

Key Levels to Watch:
📌 Bullish Scenario:
For Bitcoin to continue its uptrend, it must break above 106k and hold there with a confirmed daily close. Only then could we see a push toward new highs, possibly targeting 110k+ in the short term.
However, so far, BTC has failed to close a daily candle above 106k, with just upper wicks forming—indicating that sellers are taking profits at this level.

📌 Bearish Scenario:
If BTC fails to break 106k and faces rejection, we could see another retest of the 89k-92k support area.
A breakdown below 89k would shift market sentiment and could trigger a larger correction, possibly toward the 84k-86k zone.

📌 Monthly Close & Market Sentiment:
For BTC to close the monthly candle in green, it must hold above 93k.
Currently, this looks achievable, but volatility remains high, and any major shift in market sentiment could change the outlook.

What’s Next?
If BTC closes January in green, this would reinforce bullish momentum heading into February, increasing the likelihood of a continued uptrend.
However, failure to reclaim key levels could lead to more choppy price action in the near term.

🚀 Eyes on 106k—a breakout above could set the stage for new all-time highs!
🔻 Watch 92k support—losing it could mean deeper correction.

Please don’t forget to boost this idea and leave your comments below.

2 Şub

Not

Bitcoin didn't manage to break 106k level and currently is correcting below 100k.
Hopefully it resumes its uptrend soon.
Also, the monthly candle closed above 102k which is a very good sign for continuation of the uptrend in the month of February.

7 gün önce

Not

After reaching a support area at 92K, Bitcoin is consolidating around 96K-98K, with the potential of breaking out above 100K again.

So far, all attempts to rise above the 100K area have failed, but on the other hand, BTC has consistently held above 95K, which is a positive sign for the continuation of the uptrend.
This indicates strong support at lower levels, suggesting that buyers are stepping in to defend the price from further declines.

At the moment, BTC needs to break and hold above 100K in order to resume its uptrend.
A decisive breakout above this level, accompanied by strong volume, could open the door for a move toward new highs.
If bulls manage to sustain momentum, Bitcoin could target the 105K-110K range in the near term.
However, failure to break 100K could lead to further consolidation or a potential retest of support levels before another breakout attempt.