Bitcoin Breaks Out: Bulls Eye $100K, But Must Defend Critical Support
Bitcoin ($BTC ) has surged past key resistance levels, reigniting bullish momentum as traders anticipate a potential push toward $100,000. However, sustaining this rally requires holding crucial support zones to avoid a fake breakout scenario.
📈 Key Breakout Confirmed – But Can Bulls Hold It?
Breakout Above $93K–$96K Range: After weeks of consolidation, BTC decisively cleared the $96K resistance, signaling a potential uptrend continuation.
Current Price: $97,015 (testing higher levels)
Next Major Target: $100K (psychological barrier), followed by $103,600 (technical resistance).
⚠️ Warning: A drop back below $95K could invalidate the breakout, triggering profit-taking and a retest of $90K–$92K support.
🔍 Technical Strength & Key Levels
200-period SMA ($86,572) & EMA ($89,048) – Both are well below price, confirming bullish structure.
Volume Surge – Breakout was accompanied by strong volume, adding legitimacy to the move.
Compression Pattern – Similar to prior setups that led to upward bursts.
⚡ What’s Next? Bullish Case vs. Risks
✅ Bullish Scenario (Continuation)
Hold above $96K → Momentum builds toward $100K+.
Break above $103.6K → Could accelerate toward ATH retest ($120K+).
❌ Bearish Risk (False Breakout)
Rejection below $95K → May signal a liquidity grab, leading to a pullback toward $90K–$92K.
Macro Risks – Geopolitical tensions, Fed policy, and ETF flows remain wild cards.
📢 Final Takeaway: Trade with Caution
Short-term traders: Watch $95K as support – losing it could trigger a dip.
Long-term holders: The trend remains bullish, but volatility is expected near $100K.
Key to watch: Volume sustainability & institutional inflows (e.g., MicroStrategy’s continued BTC purchases).