📢 Bitcoin Tests Critical Breakout Zone!

🔸 Key Levels in Focus

Bitcoin is currently challenging a significant resistance level above $108K. A successful breakout could pave the way for a move towards the $110K target, but a confirmed weekly close is crucial to validate the move and avoid a bull trap.

🔸 Market Sentiment & On-Chain Data

Strong support has solidified around the $108,836 mark. On-chain data reveals smart money accumulation and significant exchange outflows, suggesting long-term holders are confident and not looking to sell at current prices.

🔸 The Bigger Picture: Patience is Key

While the indicators are bullish, the market is at a pivotal point. The lack of a confirmed breakout means traders should remain cautious. The conviction of long-term holders provides a strong fundamental backdrop, but short-term volatility is expected.