$BTC

Bitcoin's current trend is showing mixed signals, with some indicators suggesting a bearish outlook and others pointing to a continued bullish trend. Let's break it down ¹ ² ³:

- *Bearish Signals:*

- *Double Top Pattern*: Bitcoin has formed a double top pattern on the 3-hour chart, indicating potential bearish reversal after a strong bullish run.

- *Trendline Break*: The price has broken below the ascending channel on the 1-hour chart, suggesting a potential drop.

- *Resistance at $105,300*: A failed attempt to break above this resistance level could lead to a bearish trend.

- *Bullish Indicators:*

- *Bullish Trendline*: The long-standing bullish trendline provides a foundation for optimism, reflecting sustained upward momentum.

- *Monthly Bullish Outside Candle*: Bitcoin is poised to snap a two-month decline and pencil in a bullish outside candle on the monthly chart.

- *Potential for $100,000*: Analysts predict a possible upside move to at least $100,000 in the near future.

Given these mixed signals, it's essential to monitor key levels, such as:

- *Support Levels:* $102,801-$104,263 and $97,100

- *Resistance Levels:* $105,300 and $107,100

Some analysts predict potential targets of $97,100 or even $81,386 if the bearish trend continues, while others see a possible bull run after a short-term correction ² ⁴. Ultimately, the direction of Bitcoin's price will depend on various market and economic factors.

To stay up-to-date with the latest Bitcoin news and analysis, consider following reputable sources like Finnhub or TradingView. Keep in mind that cryptocurrency markets are highly volatile, and prices can fluctuate rapidly. Always do your own research and consider multiple perspectives before making investment decisions.

Current Price: $105,489.72

Percent Change: 0.24% ⁵