$BTC is currently undergoing a correction after failing to sustain above $104K, with price consolidating near the previous channel breakout zone around $101K- $102K. The rising channel structure remains intact for now, but a breakdown below $100K could open the door for a deeper retest toward $97K-$95K. Bulls must defend this key zone to maintain structure, while a reclaim above $104.5K would signal renewed bullish momentum and potential continuation toward $107K+.

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