After breaking through the historical peak, the price of Bitcoin has slightly corrected. But this brief pause is likely to just accumulate energy for the subsequent strong rise. At present, BTC is hovering around $101,000, and the market is very likely to set off a rebound wave again.

Bitcoin correction: Can the key support level hold?

Bitcoin has started a correction trend near $109,000, and has successively fallen below the two support lines of $104,500 and $103,800. The current price has slipped below $102,000 and is gradually approaching the key support area of ​​$100,000. Once BTC can stabilize its position above this support level, it is very likely to usher in another wave of gains.

Current technical analysis

From the hourly chart of BTC, a bearish trend line has been formed, and $104,000 has become an insurmountable key resistance level. If the price successfully breaks through this point, it will be expected to hit the $106,500 area and even challenge $108,000. If these resistance levels can be overcome one after another, it is not far away for BTC to hit the historical high of $109,500 again.

Risk of callback: Can the support level be as solid as a rock?

Once Bitcoin fails to break through the resistance level of $104,000, it is likely to continue to fall back, aiming directly at the support level of $100,000. Once this support level is broken, the price may further drop to $98,800, or even further, to $96,500.

Summary

The current callback of Bitcoin may only be a short-term market adjustment. As long as it can hold above the key support level, the price is expected to rebound again and start the next round of sharp gains.

#加密市场回调 #币圈翻车日记:我的2024坑爹时刻 #加密友好Uyeda接掌SEC #特朗普就职后行情怎么走？ #特朗普妻子发币 $BTC $ETH