A slow bull becomes more dangerous as it rises! Under the shadow of a black swan in the Middle East, 108,000 may be the last escape route for the bulls.
The market panic triggered by the tense situation in the Middle East caused Bitcoin to plummet over the weekend, briefly dropping below the 100,000 mark to around 98,600.
Although the current 4-hour chart has shown a strong rebound after forming a double bottom, indicating a slow bull pattern, I choose to remain on the sidelines for now.
The area around 108,000 is a clearly defined key resistance level, and I believe it is worth attempting to short when the price reaches that level.
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