🔥 Bitcoin Nears All-Time High — Breakout or Bull Trap?
Bitcoin just made another move upward, touching $107,000 before pulling back slightly. It’s now hovering around $104,500–$105,500, holding above key support and showing signs of strength.
📈 What’s Happening?
🔻BTC bounced from $102,500, broke past $103,500, and surged to $107,042.
🔻Price is now above the 100-hour SMA and holding a key bullish trend line near $104,200.
🔻Immediate resistance lies at $105,500 — if BTC breaks this level, eyes are on $106K and $107.5K.
🔻A strong close above $107.5K could fuel a rally to $108,800… maybe even push toward a new all-time high above $110K.
⚠️ But What If It Fails?
🔻If bulls lose steam, support levels to watch are $104,200, then $103,500.
🔻A break below $103,500 could open the door to $102,200 or even $100,500.
🧠 What the Indicators Say
🔻MACD: Losing momentum, but still in the green.
🔻RSI: Holding above 50 — bullish but cooling off.
🔻Trend: Holding key support and bullish structure for now.
🚀 What to Watch Next
$105.5K is the level to beat. If BTC pushes through with volume, bulls might get the final breakout they’ve been waiting for.
⚠️Caution: Rejections at resistance could turn into a deeper correction.
Bottom Line:
Bitcoin is dancing just below ATH territory. This could be the launchpad — or a fake out. Stay sharp, manage your risk, and watch the key levels.
