$BTC recently retested the ~US$99,000 support zone and bounced back to trade around US$106,000.

It has broken below a key technical level — the 200-day moving average (≈ US$108,000) — which is often seen as a long-term trend line.

Short-term momentum is weak: the price is below the 50-day/365-day averages, and some indicators show “indecision” in the market.

🎯 Levels to Watch

Support Zone: ~US$100,000 — a psychological and structural support level. A break below could lead to deeper declines toward ~US$94,000.

Resistance Zone: ~US$111,700-US$112,500 — if overcome decisively, could open a path toward ~US$116,000 or higher.

Current Range: Essentially between ~US$100,000 and ~US$112,000 while the market waits for a clear breakout or breakdown.

✅ Market Outlook & Strategy

Short-term: Cautious-to-bearish. Given the break below the 200-day MA and weak momentum, the risk of a deeper pullback is elevated unless a strong reversal occurs.

Medium-term: The long-term outlook remains conditional. If Bitcoin regains strength and breaks above resistance with volume, the up-trend could resume. Conversely, failure to hold support could trigger a sharper drop.

Strategy Thoughts:

For traders: Potential opportunity to buy near support (~US$100k) with tight stop-loss, aiming for the resistance zone.

For conservative investors: Might wait for confirmation of trend direction (break of resistance or solid hold of support) before increasing exposure.

Risks: Macroeconomic headwinds, regulatory news, large-holder sell-offs, or structural breakdown in the crypto market could hasten declines.

Catalysts to watch: Institutional inflows/outflows, regulatory developments, global macro-economic shifts (e.g., interest rates), and Bitcoin-specific technical breakouts.