BREAKOUT LVL
At the moment, the situation comes down to the struggle of buyers and sellers for the key range of $94K–$97K.
On the one hand, the bears are actively saturating the glass with limit orders in the resistance zone, but the bulls are successfully taking volumes so far. The main factor now is the question of the capital reserves of aggressive long buyers versus conservative short sellers
In case of a successful breakout of $97.5K, the next short-term target is $97,500, where sellers are expected to resume their activity and fight for consolidation above the level.
If the bears push the price below the support level of $94,000, the market will form a bearish structure with a sequence of decreasing highs and lows. In this scenario, the next targets will be $88,500, and then the area of strong support at $84,000.