Bitcoin at a Crossroads: Breakout or Pullback?$

After hitting new highs, Bitcoin is consolidating within the 92K-106K range.

Bitcoin has found strong support within the 89K-92K area and strong resistance at 104K-106K.

Key levels to watch:

📌 Bullish scenario:

For Bitcoin to continue its uptrend, it must break the 106K level and hold there with a confirmed daily close. Only then could we see a push towards new highs, possibly targeting 110K+ in the near term.

However, so far, Bitcoin has failed to close a daily candle above the 106K level, with only upper wicks forming – suggesting that sellers are taking profits at this level.

📌 Bearish scenario:

If Bitcoin fails to break the 106K level and faces rejection, we could see another retest of the 89K-92K support area.

A breakdown below 89k would change the market sentiment and could lead to a bigger correction, possibly towards the 84k-86k area.

📌 Monthly Close and Market Sentiment:

For Bitcoin to close the monthly candle in the green, it needs to stay above 93k.$BTC