After a period of strong growth, Bitcoin has finally reached a new historical peak (ATH) and immediately after that is an adjustment to the price zone of 107,000 USD as it is now. In this article, I will review the price journey, analyze important technical zones, and predict the next scenario for BTC.
After a strong growth journey, Bitcoin has finally officially reached a new all-time high – 111,980 historical ATH. However, right after hitting the important resistance zone on the weekly chart, the price experienced a slight adjustment and is currently around 107,000 USD. This is an extremely sensitive time, where the market stands at the boundary of continuing to explode... or a deeper adjustment before returning to the game...
On the weekly chart as shown, BTC just tested the long-term resistance trendline – a green resistance line that has existed since 2021. This touch has triggered a certain selling force; however, the current signals still do not show strong distribution pressure, the weekly candle is still in an uptrend and the buying force is still quite clear.
When looking more closely at the technical structure, you will see BTC is fluctuating in a short-term descending correction price channel – a familiar type of 'bull flag'. The recent strong bounce is a positive sign, indicating that the buyers still control the game, especially when the price bounced from the support zone around 92,000 – 95,000 USD. Currently, the resistance zone of 115,000 – 120,000 USD above is the next target if BTC can break out of the current price channel. Conversely, if the price is rejected in this zone and falls below 100,000 USD, an adjustment to the 95K zone or even 85K is entirely possible.
At this moment, you also shouldn't FOMO, especially when the price has just increased sharply and is approaching the historical resistance zone. If you haven't entered yet, be patient and wait for the price to return to better support zones to enter, especially around the 100K mark or deeper at 95K. And regardless of which direction the market goes, capital management, emotional control, and always keeping a cool head are still vital factors.
Still my usual saying. Slow and steady, sustainable profits are the smart investment.
Wishing everyone success.
$BTC
