Bitcoin's Short-Term Outlook: A Tug-of-War at All-Time Highs?

Bitcoin is currently hovering around the $107,000 mark, tantalizingly close to its all-time highs. The immediate future seems to be a battleground between bullish momentum and potential profit-taking.

Some analysts are pointing to "strong structural support" around the $93,000-$100,000 zone, suggesting a solid foundation for further upward movement. Hopes of potential Fed rate cuts and easing geopolitical tensions are also seen as tailwinds that could propel $BTC towards $128,000 in the short term if a "bull flag" pattern plays out.

However, others caution that Bitcoin's recent monthly growth has been the weakest since July, indicating that "whales" (large holders) might be counteracting the positive inflow from ETFs with strategic selling. This could lead to continued consolidation or a short-term correction if the $103,700 support level is breached.

In essence, the next few days could see Bitcoin either push to new all-time highs or consolidate within its current range. Traders and investors will be watching key resistance levels around $111,980 and $112,000, while support remains crucial at around $103,700 and below. The market is definitely in a phase of keen observation!

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