Bitcoin's price (#BTC ) is currently experiencing volatility and anticipation, as it moves within a defined price range after a strong upward wave that brought it to new historical levels this year. Investors and traders tend to be cautious, waiting for clear signals to determine the market's next direction.
Main Support Zones
Support zones are price levels where the price is likely to bounce back up due to increased demand and buyer strength.
* Most important support: $100,000 - $98,000
This area represents a very strong psychological and technical barrier. As long as the price remains above this level, the medium-term positive outlook remains valid. Breaking this level may lead to a deeper correction.
* Secondary support: $95,500
If the main support is broken, this level is considered the next support area where the price may temporarily stop.
Main Resistance Zones
Resistance zones are the levels at which the price struggles to overcome due to increased selling pressure.
* First resistance: $106,500 - $108,000
This area is considered the first obstacle for the price. Breaking through it and stabilizing above will give a strong positive signal for continuing the upward trend.
* Main resistance (historical peak): ~ $112,000
This is the most important level of all. Exceeding this peak will open the door to a new upward wave that may target levels of $120,000 and beyond.
Expected Trend
The current trend for Bitcoin is a sideways trend with a bullish bias (Consolidating with a bullish bias).
This means that the price is moving horizontally within a defined range (consolidation), but still retains its upward momentum. The market is currently in a "breathing" phase after significant rises, which is considered healthy and natural before determining its next direction.
Summary:
It is advisable to closely monitor the levels mentioned above. Breaking the resistance zone at $108,000 may be a signal to enter or strengthen buying positions, while breaking the support zone at $98,000 may be a signal to reduce positions or take profits and wait for lower price levels. The overall trend remains optimistic as long as prices stay above the $100,000 barrier.
Note: This analysis is for educational and guidance purposes only and does not constitute direct financial advice. The cryptocurrency market is highly volatile and involves high risks.$BTC
