$BTC showing signs of recovery after sharp dip to $100,372
š Now at $105,130.06 ā up +1.40%, but still below key resistance; bulls attempting to reclaim momentum
š„ 24h Vol: 12,619.59 BTC | Eyes on $107,000 for trend confirmation
Technical Analysis:
Support levels: $104,939 (minor), $103,716 (intermediate), $103,134 (minor); major support at $100,000
Resistance levels: $106,154 (major), $106,868 (minor), $107,000 (critical for bullish reversal)
Volume: 24h volume remains strong, supporting recovery attempts
Pattern: Recent breakdown from a head-and-shoulders pattern; current move appears to be a bounce/retest of breakdown neckline
Key zones: $107,000 is critical resistance; reclaiming it would invalidate the bearish setup and open path to new highs
Previous context: Price rebounded from $100,372 low; short-term trend is slightly bullish but underlying risk of another leg down remains
Targets:
šÆ Short-term: $106,154 (+0.97% upside)
šÆ Medium-term: $107,000 (+1.78% upside, bullish confirmation above)
šÆ Stop-loss: Below $103,716 (-1.34%)
Risk Assessment:
Volatility remains high; recent bounce could be a dead cat bounce if $107,000 is not reclaimed
Market context: Macro uncertainty and recent bearish H&S breakdown weigh on sentiment
Confirmation needed: Sustained move above $107,000 for bullish bias; failure could trigger renewed selling to $100,000 or $95,500
Sentiment: Slightly bullish short-term, but caution warranted until key resistance is broken
DYOR (Do Your Own Research)
Bulls or bears in control? Watch $107,000 for the next decisive move. DYOR
