Is Bitcoin’s Bearish Phase Nearing Its End? Key Levels to Monitor Now
Bitcoin $BTC /USDT)has staged a sharp rebound from the critical $102,000 support zone after plunging from its recent peak of $107,108. This swift recovery has sparked optimism about a potential trend reversal—but is the downtrend really over?
From a technical standpoint, BTC is trying to regain lost ground following a steep multi-hour drop that wiped out over $5,000 in value. The $102K level served as a strong demand area, fueling the bounce. However, a decisive shift in momentum hinges on BTC breaking and sustaining above the $104,500–$105,000 resistance—where it was previously rejected. Without this confirmation, the current move could simply be a relief rally or a bull trap.
Trading volume remains moderate, signaling cautious accumulation. A strong breakout above $105K, supported by volume, could pave the way for a retest of $107K. Conversely, a breakdown below $102K may drag BTC down toward the next critical support at $100,000—a psychological threshold bulls must defend.
Bottom Line: Bitcoin is showing initial signs of strength, but the bearish phase isn't confirmed over just yet. The price action between $102K and $105K will be crucial in determining the next significant move.
Buy and trade $BTC now—just don’t take your eyes off these key levels.