【Has the Bull Market for Bitcoin Hit the Brakes? $104,500 Becomes the Line of Life and Death!】
The continuously surging Bitcoin has finally encountered a 'cold front' at high altitudes.
According to the latest on-chain data:
Bitcoin (BTC) has fallen below $104,500, reaching a historical key range since December 2024!
The critical point is here:
The weekly closing must hold above $104,500; otherwise, the next bull market may be forced to delay or even face a deeper correction!
The massive profit-taking pressure is the 'culprit' for the current upward resistance.
2️⃣ Trading sentiment is showing signs of loosening, with on-chain demand indicators approaching short-term peaks.
3️⃣ If the key support is lost, Bitcoin may fall back to the $90,000 range to restart price discovery!
Why must you pay attention?
This is not an ordinary fluctuation; it's a crucial game of whether the rhythm of the bull market continues.
Holding above $104,500 gives Bitcoin the potential to reignite upward momentum and move towards $120,000.
If it falls below, a chain reaction may occur, with shorts entering, technical traders taking profits, and bulls losing confidence...
Operational suggestions (for reference only):
Short-term traders: closely monitor the weekly closing and low-position replenishment signals.
Swing traders: set dynamic take-profit/stop-loss, don’t get too attached to battles.
Long-term traders: the bull market structure remains intact; stay patient but be mindful of rhythm control.
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Remember:
True hunters never chase the wind at high ground; they ambush during corrections!
Before the next wave of rises, those who give opportunities will provide a chance to get on board. Are you ready?
