🔥 $BTC Coils Below Resistance: Big Move Imminent?

$BTC is showing strength, consolidating around the $105,400 level after a notable upward move. We continue to see significant institutional interest bolstering the market. However, stay alert for potential volatility stemming from upcoming US economic data releases this week!

📊 Trading Outlook:

📈 Potential Long: A decisive breakout and sustained hold above the $106,500 - $107,000 resistance could pave the way for a push towards the $110,000 - $112,000 region. This could be approached as a spot trade or with low leverage.

📉 Short Setup: Conversely, if $BTC faces rejection at resistance and breaks decisively below the $103,000 support level, we might see a retest of the $100,000 psychological level, or potentially the $97,000-$98,000 support zone. Risk management is key, especially if considering leveraged shorts.

⚠️ NFA/DYOR.

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