Think of it as a stubborn door that's been slammed shut multiple times by sellers eager to defend their ground. Despite this pushback, the bigger picture still looks promising for Bitcoin. It's been steadily climbing, respecting a long-term upward trendline and consistently making higher lows – kind of like taking two steps forward, one step back on its way up.

What's Happening Now: $BTC

Right now, Bitcoin's price action is like a coiled spring just under that resistance. We're seeing some signs that the upward momentum might be taking a breather in the short term. We've seen the price briefly poke above, leaving behind 'wicks,' but hasn't managed a solid, confident close above. Meanwhile, there's a clear support level forming between $105,000 and $107,800. This area has acted like a sponge, soaking up selling pressure and fueling previous upward moves. Interestingly, this support zone lines up with that long-term ascending trendline, making it a prime spot for a potential 'liquidity grab' – a quick dip to shake out some traders before a bigger move.

Possible Scenarios:

In the short run, it wouldn't be surprising to see Bitcoin dip back down into that green support zone. This could actually be a healthy move, clearing out some of the latecomers who jumped in on the way up and creating fresh buying interest for a stronger push. If the price dips into this area but still respects that overall trendline, the bullish outlook remains intact, even if it temporarily breaks a more recent small upward trend.#AirdropStepByStep

Now, if Bitcoin holds strong in this support zone and starts making higher lows again, we could be looking at a powerful surge that breaks through that resistance. A clean break and a confirmed close above $95,800 could really open the floodgates for much higher prices. That resistance level has been a significant barrier for a while, so breaking through it would likely trigger buy orders and force sellers to cover their positions.

On the flip side, if Bitcoin fails to hold that green support zone and breaks below the trendline, that would signal a weakening of the short-term bullish momentum. This could increase the chances of a more significant drop, potentially putting the bullish breakout idea on hold for a bit. $BTC

Where Could Bitcoin Be Headed?

If Bitcoin manages to break through that resistance, the path towards $107,000 looks very much in play. That target aligns with the larger bullish pattern and the continuation of that long-term trendline, all backed by a generally positive sentiment in the higher timeframes. #AirdropSafetyGuide

What's the Play?

For now, it's wise to watch and see if Bitcoin pulls back into that $93,000 to $94,800 range. The key will be observing if that level holds as support and if buyers step in with conviction. Chasing the price as it approaches resistance isn't usually the best strategy. Instead, pay close attention to how the price reacts at that next potential low and then again at $95,800. If we see a pullback followed by strong buying momentum, that could present a good opportunity to go long, aiming for those new highs. #BinanceAlphaAlert

In Conclusion:

The Bitcoin market seems to be setting the stage for a potential short-term dip to gather momentum before making a serious attempt to conquer a long-standing resistance level. As long as that underlying trendline holds firm, the bullish structure remains strong, and any dip into those lower levels could offer a favorable risk-reward entry point for a move towards $106,000. #StablecoinPayments

Remember, always trade responsibly and at your own risk.

Stay tuned for more updates!

Best Regards

MFZ