Bitcoin Market Update – Key Levels Ahead
Last Thursday, Bitcoin dipped towards the 100,500 zone, followed by a sharp V-shape recovery, a classic sign of strong buying pressure. Interestingly, the market front-ran the buyers who were patiently waiting below the 100K mark, hinting that this move wasn’t a typical impulsive rally but more likely a short squeeze according to the price action as it's not a normal one.
The current price action doesn't reflect healthy accumulation. Instead, it shows signs of exhaustion, especially around the 105K–107K zone, which was previously a major support and now acting as a potential supply.
Key Levels to Watch:
1. If BTC breaks and holds above 107K with volume, we could see a push toward a new all-time high
2. Personally, I believe BTC still needs more accumulation below 100K
3. A rejection at 107K could lead to new local lows before any sustained upside
This week, I’ll be watching the 107K level closely for signs of real strength or possible trend exhaustion.