$BTC As the weekend winds down, Bitcoin remains under pressure despite a modest recovery of 1,000 to 2,000 points over the past two days. This bounce, however, lacks strength, and from a daily chart perspective, the overall trend is still bearish. Key resistance lies at 106100—below this level, downside pressure persists. If the price rises near 106100, it may offer a strategic short entry. Should it slightly break through, look for secondary resistance at 107000 and 108000. These are potential levels to add a small short position, assuming strict position control is maintained. The initial entry should not exceed 1% of capital, and the same applies to any additional entries.
On the downside, support rests at 104200. If this level fails, watch for further targets at 103500 and 102600. These deeper levels may present long opportunities, especially if strong support is observed.
Meanwhile, the broader market sentiment has been rattled. Bitcoin recently plunged below $104,000 amid Israeli airstrikes on Iran, causing $1.16 billion in liquidations. Critics like Peter Schiff resurfaced, while Robert Kiyosaki warned of civil unrest and encouraged investors to hold Bitcoin. Despite short-term volatility, Bitwise’s CEO sees a long-term “no-sell zone” above $130,000, as gold surpasses the euro in reserve holdings.
