$BTC Bitcoin Remains Strong Above $107,000 - What's Next?
• The $105,000 level has proven to be an important psychological and technical support in recent days. As long as we stay above it, the short-term outlook remains constructive.
• The real challenge is to break and consolidate above $108,500 - $110,000. Overcoming this barrier could open the door to a new bullish extension in search of all-time highs.
• The volume is supportive, but we need to see a significant increase to confirm a decisive breakout. Indecision in the volume could indicate a potential sideways consolidation before the next big move.
The market structure remains solid. Accumulation at these levels by institutions and the ongoing global adoption are the tailwinds driving #BTC. However, we should not underestimate the possibility of a shakeout to liquidate leveraged positions.
I am managing my positions carefully, setting stop-loss orders below the key support and ready to add in case of a confirmed breakout of the resistance.
Always remember to do your own research (DYOR) and manage risk. The market doesn’t give anything away!
What do you all think of the outlook? Do you believe we will break the resistance this week? Share your analyses in the comments!
