Bitcoin ($BTC) has maintained its bullish posture above the critical $100,000 mark, creating a strong foundation for potential upward continuation. The market structure remains positive on the 4-hour chart, but caution is warranted as key resistance levels approach.
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BTC Breakout Holds โ Whatโs Next? ๐
BTC recently sliced through the $98,000โ$100,000 resistance zone with impressive volume, now converting that area into firm support between $96,000 and $98,000. This zone was the scene of prior consolidation and the bullish breakout โ now a critical floor.
Currently, Bitcoin is undergoing mild consolidation just below $104,000, testing local resistance at $103,900โ$104,200, which has been rejected twice in recent sessions. This forms a horizontal ceiling, while local support at $102,600 is being validated through repeated intraday tests.
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Bullish Momentum Builds ๐
The 4-hour EMA structure remains supportive of bullish continuation. Volume increased during the recent breakout, indicating strong buyer interest. If BTC successfully closes above $103,900 on the hourly, it may trigger a next leg up toward $106,200 and possibly $108,000โ$108,500, aligning with daily resistance clusters.
Short-term bullish targets:
$106,200
$108,000โ$108,500
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Risks and Pullback Zones โ ๏ธ
If BTC fails to clear the $104K ceiling again, a pullback may test:
$102,600 intraday support
$100,000 psychological level
$98,500, a key pivot zone
A confirmed break below $98,500 would weaken the bullish case and shift the near-term bias to neutral.
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Conclusion: Eyes on $106K, but Stay Cautious ๐๏ธโ๐จ๏ธ
Bitcoin's structure remains bullish, but with resistance looming just overhead, traders should monitor $103,900 closely. A breakout confirms upside targets, while failure here could spark a brief pullback.
As always, manage risk carefully, stay informed, and follow Binance Square for all your real-time crypto analysis!
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