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This weekend, Bitcoin performed quite steadily, still firmly sitting above key support levels. The $98,200 and $107,500 price points are becoming the market's focus. As trading unfolds, many are pondering: Can the rally continue? Or will weekend liquidity push the price down? The direction in the next few trading days could determine BTC's short-term fate.
Speaking of support, the $89,326 line is crucial. As long as Bitcoin holds here, the bulls still have a chance. This level has been supporting the bullish momentum, keeping the market structure and subsequent upward potential aligned. Deeper support around $94,630 should not be ignored either.
If BTC can break through the resistance at $98,200, the next target is $107,500. This level is somewhat of a threshold—what does breaking it mean? If the daily close is above $107,500, it indicates the formation of a higher high compared to the last decline. This signal often suggests that the upward trend may continue to strengthen.
Conversely, if Bitcoin hits resistance and falls back, breaking below $89,326, the downtrend could regain dominance. At that point, the support zone between $83,822 and $82,477 will be critical. If a reversal forms here, bulls may have a chance to turn the tide and launch another rally. The short-term pattern is thus oscillating between support and resistance.
The 89,326 level must be held, or else the bulls will be truly game over.
Whether Bitcoin can hold at 107,500 this time is truly a decisive moment, but I still prefer those potential new stars. The hundredfold opportunities are hidden in those inconspicuous altcoins.
The most feared thing is a breakdown. Once it falls below the 89,326 line, you should be prepared to cut losses. I have learned this lesson through blood and tears.
This entire market trend is just building a bottom. As long as the pattern doesn't break, the bulls still have consensus.