🚀 Bitcoin Price Analysis: Could $100K Be Back on the Table?
Bitcoin’s recent price action has been nothing short of a rollercoaster, and all eyes are now on its critical support levels. Let’s dive into the details:
🔍 The Daily Chart Perspective
BTC recently surpassed $100K but couldn’t hold the momentum, falling back to the $92K-$94K support zone. This level has historically been a stronghold for bulls, but it’s been tested multiple times now, increasing the risk of a breakdown.
If the $92K support holds: BTC could rebound and aim for a new all-time high.
If it breaks: We might see a drop toward $85K as bearish momentum intensifies.
⏱ The 4-Hour Chart Insight
Zooming in, the failed breakout above $100K triggered a quick downturn. While $92K has provided temporary relief, the bearish momentum remains intact. If buyers don’t step up, the market might test lower levels soon.
📈 On-Chain Analysis – A Glimmer of Hope?
Looking at the futures market sentiment through funding rates:
Positive but declining funding rates: Indicates lingering bullish sentiment but growing uncertainty among traders.
The good news? The futures market isn’t overheated, which means there’s room for a healthy rally if spot market demand surges.
🌟 What’s Next?
Bulls: Need to hold the $92K support and regain control above $100K for a chance at new highs.
Bears: Could dominate if $92K breaks, pushing BTC to $85K or lower.
This is a pivotal moment for Bitcoin. Are we on the brink of another rally, or is a deeper correction coming? What’s your take? Share your thoughts below!
