📉 Market Context & Technical Levels
Key support at ~$100K: As the chart shows and multiple analysts confirm, this level continues to act as a strong defence zone. Cointelegraph noted bulls have been “defending the $100K key support level strongly,” triggering bounces during dips
Descending channel overhead: Bitcoin has retraced into a downward channel. A clean breakout above ~107K–109K (past recent peaks) is needed to signal a bullish shift .
Liquidity target at ~106K: Plenty of orders await in that region—flipping it to support may pave the way for another push higher .
📊 Indicators & Momentum
RSI dip near 25 during the latest drop indicates oversold conditions—often a precursor to rebounds
.
Volume surge on rebounds suggests absorbing sell pressure and strong accumulation interest at lower levels.
🚩 Key Price Zones to Watch
Level Significance
$100K Crucial support; losing it risks a slide toward $95K–97K or even $92K
.
$105K–106K Liquidity zone; flipping here as support could confirm upward momentum .
$107K–109K Resistance from channel tops and prior highs; a successful break is key to next leg up .
$112K–$112K+ If breakout occurs, upside targets extend toward prior ATH near $112K and beyond .
🎯 Chart Analysis Summary
Your chart shows three distinct bounces from the $100K–100.7K supply zone (highlighted in blue) and the latest one includes a sharp wick and rebound. This aligns with broader market dynamics emphasizing support at $100K and building liquidity at $106K. The arrow projection signals a probable retest of ~106K, with room to challenge ~107–109K after consolidation.
🧭 Trade Outlook
Bullish scenario: Hold above $100K → reclaim $106K → trendline breakout → potential rally to $112K+.
Bearish risk: Fails support at $100K → breakdown toward $95K–92K region.
📌 Bottom Line
Support $100K is alive and well. Bounces have been crisp and volume-backed.
Next test lies at $105–106K. That’s the battleground—flip it, and we may see bitcoin reclaim recent highs.
Watch the channel overhead (~107K–109K). A breakout could open the door to fresh records.
✅ Conclusion: BTC is defending its psychological base firmly. If this zone holds once more, the path to $106K and beyond is in focus. Breaking above demands conviction, but it’s the pivot to watch.
Key support at ~$100K: As the chart shows and multiple analysts confirm, this level continues to act as a strong defence zone. Cointelegraph noted bulls have been “defending the $100K key support level strongly,” triggering bounces during dips
Descending channel overhead: Bitcoin has retraced into a downward channel. A clean breakout above ~107K–109K (past recent peaks) is needed to signal a bullish shift .
Liquidity target at ~106K: Plenty of orders await in that region—flipping it to support may pave the way for another push higher .
📊 Indicators & Momentum
RSI dip near 25 during the latest drop indicates oversold conditions—often a precursor to rebounds
.
Volume surge on rebounds suggests absorbing sell pressure and strong accumulation interest at lower levels.
🚩 Key Price Zones to Watch
Level Significance
$100K Crucial support; losing it risks a slide toward $95K–97K or even $92K
.
$105K–106K Liquidity zone; flipping here as support could confirm upward momentum .
$107K–109K Resistance from channel tops and prior highs; a successful break is key to next leg up .
$112K–$112K+ If breakout occurs, upside targets extend toward prior ATH near $112K and beyond .
🎯 Chart Analysis Summary
Your chart shows three distinct bounces from the $100K–100.7K supply zone (highlighted in blue) and the latest one includes a sharp wick and rebound. This aligns with broader market dynamics emphasizing support at $100K and building liquidity at $106K. The arrow projection signals a probable retest of ~106K, with room to challenge ~107–109K after consolidation.
🧭 Trade Outlook
Bullish scenario: Hold above $100K → reclaim $106K → trendline breakout → potential rally to $112K+.
Bearish risk: Fails support at $100K → breakdown toward $95K–92K region.
📌 Bottom Line
Support $100K is alive and well. Bounces have been crisp and volume-backed.
Next test lies at $105–106K. That’s the battleground—flip it, and we may see bitcoin reclaim recent highs.
Watch the channel overhead (~107K–109K). A breakout could open the door to fresh records.
✅ Conclusion: BTC is defending its psychological base firmly. If this zone holds once more, the path to $106K and beyond is in focus. Breaking above demands conviction, but it’s the pivot to watch.
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Join My telegram channel Free:
t.me/tamesbulltarder139
💎
VIP Channels:
Forex:+400Pips & Crypto +420% monthly profit at VIP.
check pinned message in telegram for more information.
t.me/tamesbulltarder139
💎
VIP Channels:
Forex:+400Pips & Crypto +420% monthly profit at VIP.
check pinned message in telegram for more information.
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.