$BTC “Bitcoin Rebounds Strong: Is a Breakout Brewing Above $104K?”

Market Update – BTCUSDT Analysis

Bitcoin is showing strong signs of recovery across multiple timeframes after a solid bounce from the $102.8K support zone.

Key Technical Highlights:

5m & 15m Chart: Momentum surging with MACD bullish crossover and strong green candles. RSI and Stoch RSI are in overbought territory — a short-term pullback may occur before continuation.

1H Chart: Reversal signs confirmed. RSI rising, and volume is increasing — buyers are gaining control. Price reclaimed MA support and mid-Bollinger Band.

4H Chart: Slow but steady recovery. RSI >50 and MACD histogram flattening, suggesting weakening bearish pressure.

Crucial Zones:

Resistance: $104,000 – $104,600

Support: $102,800 – $102,500

Break above $104.6K may open the path toward $105.3K – $106K.

Trade Setup Idea:

Entry: $103,400 – $103,600

Stop Loss: $102,800

Target 1: $104,000

Target 2: $104,600

Breakout Setup: Enter on break of $104,600 for potential swing to $106K.

Conclusion:

Short-term momentum favors bulls, but RSI suggests caution due to overbought signals. Watch for a decisive breakout above $104.6K to confirm the next leg up.