š„ $BTC Razor's Edge: $109,374 - Bulls Fighting for Control
Bitcoin's grinding at $109,374 right now, and honestly, this feels like we're at a critical inflection point. BTC is under the strongest squeeze we've seen this year, compressed between the 4H MA50 and MA200 ā when price gets this tight, explosive moves usually follow.
š Technical Battle Zone:
Critical Resistance: $111,000-$112,000 (the gateway to new highs)
Key Support Levels: $108,000 ā $105,000 ā $100,000 (psychological fortress)
Pattern: Consolidating above key EMAs while maintaining bullish long-term structure
The momentum indicators are mixed but leaning constructive. Technical indicators signal 67% bullish market sentiment, while we're seeing some healthy base-building after the 10.25% correction from the $111,980 all-time high.
šÆ Market Sentiment: Fear & Greed Index showing 71 (Greed territory) ā not extreme, but definitely bullish. ETF inflows hit $250M recently, showing institutions are still accumulating on any weakness.
š The Bigger Picture: A breakout above $112,000 could push Bitcoin toward $120,000 by mid-to-late June. Multiple analysts expecting $120K in first half of 2025 en route to $200K by year-end.
My Take: This squeeze is building serious energy. We're literally sitting between two moving averages that are acting like a pressure cooker. The $100K psychological level held strong during the recent correction, which tells me the foundation is solid.
A clean break above $111K with volume could trigger that run to $115-120K. But if we lose $108K, we might retest the $105K support zone first.
š” Trading Setup:
Entry: $108,800-$109,500 (current consolidation zone)
Target: $116,500 (6.5% upside to next major resistance)
Stop Loss: $106,200 (-3% below key support)
Patience pays in these tight ranges. Let the breakout come to you.
