• After achieving the first target at the level of 104,500 USD, the price entered a slight corrective movement that has not lost momentum yet. Holding above the level of 97,500–98,000 still supports the bullish scenario.
Current Scenario:
• As long as the price remains above 98,000 USD, the bullish scenario is still likely.
• Breaking 104,500 and holding above it may open the way to test the stronger resistance at 108,600.
• If we break 108,600, we may witness an upward extension towards the areas of 112,000–114,000 (areas that have not been previously tested and are considered an extension of previous price behavior).
Alternative Scenario:
• A clear 4H close breaking the support at 97,500 may bring Bitcoin back to test 94,000 again.
• A break below 94,000 weakens the bullish scenario and returns it to the range of fluctuation.