$BTC #BTCPrediction

What’s happening with Bitcoin right now:

First of all, the 105–106K support worked as a launchpad for a rebound, from which we made a new high. While this move was predictable, it was the least expected scenario for me.

The drop from 109K to 106K was sharp, resembling a primary position dump by a major player. Now we’re gradually forming a rising wedge within a sideways range (the wedge is marked with white lines, the range with yellow). I expect the Asian session (China) to attempt a liquidity grab above the highs, followed by another position flush. The first support zone to watch is around 107,800–108,800.

If that doesn’t hold, we’ll likely head toward the 104–105K zone.

For long traders, a bullish scenario is only possible if the price closes above 112–113K on a 4-hour candle — and even then, in my opinion, the upside is limited to the 116–120K area, followed by a potential drop to 35–39K. So be cautious with long euphoria.