Market Update: Bitcoin's Resistance Levels and Potential Movements
Bitcoin is testing a critical resistance level at $98,300, with traders closely watching for the next major move. A decisive 4-hour close above this level could trigger a breakout, potentially pushing Bitcoin toward the highly anticipated $100,000 milestone.
Key Levels to Watch
Resistance: $98,300 – A strong breakout here could fuel further bullish momentum.
Support: $96,600 – If Bitcoin fails to break resistance, a pullback to this level could be the next key test for bulls.
Market Sentiment and Caution
Despite bullish enthusiasm, market volatility remains high. Traders should monitor volume and confirmation signals before making significant moves. A failed breakout could result in a short-term correction, while a clean break above resistance may pave the way for Bitcoin’s next leg up.
What’s Next?
If Bitcoin holds above $98.3K, a push to $100K seems likely. However, rejection at this level could lead to a retest of lower support. With uncertainty still in play, risk management is crucial in navigating the current price action.
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