I just share the below sceenshot to ai and ask to breakdown. below is the reply , have a look, its seems an accurate reply:

Based on the current chart and market data, there’s a strong probability that Bitcoin will retest the 106K level. The price is consolidating between $101K and $106K, with 106K acting as a significant resistance. Multiple technical indicators, including the clustering of key Fibonacci retracement levels (0.382 and 0.618) around 106K, reinforce the importance of this zone.

On-chain data shows substantial whale accumulation, with large holders (addresses with 1,000+ BTC) significantly increasing their positions in recent months. This is a bullish signal, as whales often accumulate before major price moves. The MACD indicator is also positive, suggesting underlying bullish momentum.

Market sentiment is cautiously optimistic. Traders are watching for a decisive breakout above 106K, which could trigger further buying and potentially lead to new highs. However, if the price fails to break through, it could retrace to lower support levels, such as $104.2K or even $103.4K.

In summary, the technical setup and strong whale activity make another test of 106K likely. The outcome—whether a breakout or another rejection—will depend on buying pressure and broader market sentiment. Watch for a daily close above 106K for confirmation of a sustained move higher. $BTC