BTCUSDT Analysis – Bullish Focus Amid Consolidation
Bitcoin is currently mirroring the broader market sentiment, particularly tracking the S&P 500. After a false breakout above the psychological 100K level, BTC entered a distribution phase, followed by a consolidation range. This indicates a potential accumulation before a bullish continuation, although resistance levels remain key hurdles.
False Breakout at 100K: A failed breakout attempt triggered a sharp reversal, signalling short-term weakness. Price rolled back and found temporary support around 106,200, pausing further downside The pair is consolidating within a tight range, indicating a possible setup for a renewed bullish push.
Outlook: Despite the resistance cascade, BTC remains in a bullish structural zone as long as it holds above 106,000. A clean breakout above 108,500–110,000 could open the path back toward 114,000–117,000. However, failure to break may result in a deeper pullback towards 104,000–102,500.
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