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Technical Analysis: BTCUSDT – Daily Timeframe
Current Market Status:
Current Price: Around 105,022 USDT
The price is currently facing a strong resistance zone (highlighted gray area).
The previous trend was bearish, but the downtrend line has been broken and the price has sharply rebounded and rallied.
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Scenario 1: Breakout Above 105K–107K Resistance
If the price breaks this resistance zone with strong volume and a solid candle close (preferably a daily or 4H candle closing above 107,200):
Potential Targets:
112,500 USDT (first liquidity zone above)
118,000 USDT (previous high before the major drop)
Up to 124,000 USDT if the market enters a strong bullish phase
Why?
A clean breakout above this resistance means sellers are absorbed and a new bullish wave can begin.
Liquidity and sell orders are stacked above the current resistance.
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Scenario 2: Rejection From the Current Resistance
If the price fails to break the zone and forms a long wick followed by a bearish candle:
Downside Targets:
95,000 – 97,000 USDT (first key support)
If broken, the next support is around 88,000 – 90,000 USDT (previous accumulation zone)
Why?
The resistance zone is strong, and a heavy pullback is likely.
Traders may start taking profits at this level.
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Special Scenario – Fakeout:
If the price briefly breaks above resistance with a long wick but quickly drops back and closes below, a sharp drop toward 88,000 becomes highly likely.
This is considered a fake breakout.
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Conclusion:
The market is currently bullish but facing a critical resistance zone.
For long positions, it’s better to wait for a confirmed breakout.
For short positions, look for a clear rejection signal or a break below key support levels.
