$BTC ๐ Technical Outlook: Can $106K Hold or Is a Break Below Coming?**
Bitcoin is currently consolidating just under the $106,000โ$106,300 zone, a key resistance area highlighted by multiple EMA bands and the Ichimoku cloud .
**Key levels to watch:**
โ ๐ Resistance: $105.8kโ$106.3k โ a major supply zone
โ ๐ก๏ธ Support: $103.1kโ$104.2k โ demand zone from recent trading action
**What this means:**
A breakout above $106.3k with volume could target **$110k+**
Failure to breach may lead to a drop toward $103kโ$104k
๐ Technicals suggest caution โ the Stochastic RSI is near overbought, and Bollinger Bands are tightening .
๐ Share your view: Are you expecting a breakout or a deeper retrace?
๐ View live chart: TradingView BTC/USD Analysis
