Bitcoin (BTC) is currently trading at $104,000, approaching its all-time high of $109,000. The recent price action suggests a potential breakout, with increased volatility and liquidity hunting expected.
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š Technical Overview
Current Price: $104,000
All-Time High (ATH): $109,000
Key Resistance Levels:
**$107,000**: Mid-term resistance; a breakout above this level could confirm bullish momentum.
**$109,000**: Major resistance; surpassing this could lead to significant price appreciation.
Key Support Levels:
**$100,000**: Psychological support; a drop below this level may invalidate the bullish setup.
**$93,000**: Critical support zone; a breach below this range could indicate a trend reversal.
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šÆ Trade Setup
Entry Point: $104,000
Stop-Loss (SL): $98,000
Take-Profit (TP) Targets:
1. **$107,000**
2. **$110,000**
3. **$115,000**
4. **$120,000**
5. **$125,000**
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š Market Sentiment
The market is exhibiting strong bullish sentiment, with Bitcoin's price coasting along at $101,251 on May 8, 2025, leaving a 7.44% gap before reaching its all-time high. Analysts suggest that if the $100,000 level holds, Bitcoin could test its all-time high again.
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ā ļø Risk Management
Monitor Support Levels: Keep an eye on the $100,000 support zone. A breach below this range could indicate a trend reversal.
Volume Confirmation: Look for increased trading volume to confirm breakout strength.
Stay Informed: Regularly update yourself with Bitcoin's developments and market news.
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*Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Always conduct your own research before making investment decisions.*
