🔥 Bitcoin Nears ATH — One Final Push or a Fakeout?
Bitcoin (BTC) is once again flirting with new highs, briefly surging to $107,042 before cooling off below $105,500. With bullish momentum building, traders are watching closely: Is BTC ready for a breakout past $110K, or is this just another bull trap?
Bitcoin Stabilizes Above Key Support
• BTC bounced off the $102,500 support zone and reclaimed the $103,500 and $104,200 levels with strong buying interest.
• A bullish trend line is holding at $104,200, and BTC remains above the 100-hour SMA, signaling continued short-term strength.
Key Resistance Zones Ahead:
• Immediate Barrier: $105,500
• Major Resistance: $106,000
• Breakout Point: $107,500
• Target on Breakout: $108,800, then psychological milestone $110,000
A sustained move above $107,500 could ignite the next leg higher, potentially pushing BTC into new all-time highs. Price structure shows strong demand zones holding, but volume needs to rise for a confirmed breakout.
Risk of Pullback Remains
If BTC fails to clear $105,500, a short-term correction could follow:
• Support Zones:
• Minor: $104,500
• Key: $104,200 (trend line)
• Secondary: $103,500
• Critical: $102,200 – $100,500
• A break below $100,500 would shift momentum firmly bearish.
Technical Snapshot:
• MACD (1H): Losing momentum, though still in positive territory.
• RSI (1H): Hovering above 50 – neutral to bullish bias.
Watch for a decisive move above $106K. If bulls maintain control, BTC may explode toward $110K+. But failure to hold support could open the door for a deeper retracement.
