Horror Support Level Warning: Once it falls below 106,300, a plunge could hit $103,800!
Bulls initially succeeded but with hidden worries, 108K becomes today’s decisive point!
$BTC stabilized and rebounded after a sharp drop, currently successfully standing firm at the middle track of the Bollinger Bands, indicating that the bulls have regained short-term initiative. The MACD indicator is releasing key signals: green bars continue to extend, DIF and DEA are approaching a golden cross, the bear attack is temporarily halted, and the bulls are accumulating ammunition for a charge. But the real test is just beginning.
Key Battlefield: $107,500 Pressure Zone
The current biggest obstacle is located in the $107,500-108,000 area, where there are threefold pressures:
Supply zone formed by double peaks on June 12 and June 20
Upper track of the daily Bollinger Bands exerting pressure
Psychological barrier at the $108,000 defense line
History does not lie: this position has suppressed the bull momentum three times in the past week, making it a “bull-bear meat grinder.”
Two Major Trends Today
1. Volume Breakthrough
Hourly chart closes firmly above $107,500
Trading volume increased by 20% compared to the previous day
If established, upward space opens, next target is $109,800
2. Encounter Resistance and Retreat
Price repeatedly pressured at $107,500
Falling below $106,300
Will trigger a pullback, deeply testing the strong support area of $104,500-103,800
Latest News Validates Direction
Positive: BlackRock IBIT saw a net inflow of $124 million yesterday
Concern: Deribit options data shows over $530 million in put contracts accumulated at $107,500-108,000
Volume Determines Authenticity: Any rise without volume is a paper tiger, the breakthrough of $107,500 requires explosive volume
Boundary Line Monitoring: If it holds above $106,300 during European trading hours, it retains the opportunity to rise
Strict Risk Control: Before a clear breakthrough of $107,500, positions should not exceed 50%
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