Technical Analysis of Bitcoin (BTC) — Target 115K in Sight, But Beware of Corrections

Strategy and Recommendations

Entry (Buy): Area 106K – 107K, near support and main MA.

Cutloss: If the price drops below 100K, as a breakdown signal from strong support.

Target Take Profit (TP):

TP1: 110K

TP2: 111.8K

TP3: 115K

Bitcoin (BTC) is still showing a strong upward trend in the short to medium term. Sustained bullish momentum opens opportunities for a continuation of the rally, but the price is now approaching an important resistance zone, which could trigger a temporary correction.

Trends and Key Levels

Currently, BTC is on a bullish path, but is nearing critical resistance at the 110,000 level. This area is an important psychological and technical zone that could trigger profit-taking by market participants.

If BTC manages to break through and stay above 110K, then the next movement could potentially head towards 115,000, the next target in the current upward trend structure.

Correction Scenario (Bearish Case)

If the price fails to break through resistance at 110K and experiences selling pressure, it is likely to test the support area around:

106,000 – as initial support and also a potential buying area.

If this level breaks, then the decline could continue to 100,000, and even touch 97,500, which is also close to Moving Average 99 (MA99) as dynamic support.

Important Note: If the price falls and stays below 97,000, then the bullish structure could be considered broken, and BTC could potentially enter a bearish phase.

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