Reclaim Or Retreat? Bitcoin Is Struggling At This Make-Or-Break Zone
Bitcoin is in a critical battle at the $107,000–$108,000 resistance zone after a rejection, with support at $105,000. If Bitcoin reclaims this range, it may gain bullish momentum, potentially moving toward $116,000–$118,000. However, failure to hold above $105,000 could lead to a drop towards the $103,000 support level. Analysts suggest the current rejection might be a brief setback before another bullish attempt.
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Overview of Bitcoin's Current Struggle
Bitcoin is currently locked in a decisive struggle at an important make-or-break resistance zone. After a strong attempt to drive higher, BTC was rejected and has retreated to a pivotal support area. The next few sessions are deemed crucial: bulls need to quickly reclaim the critical overhead resistance, or there is a risk of triggering a broader market retreat toward lower support levels.
Battle at Resistance: Targeting $107,000–$108,000
In a recent update, Crypto Candy highlighted that Bitcoin’s price action aligns largely with expectations, maintaining strength and structure across key levels. After enduring volatility, BTC defended the $99,000–$101,000 support zone, setting the stage for a rebound toward the resistance area of $107,000–$108,000.
The $107,000–$108,000 range is currently a critical barrier. Bitcoin’s ability to reclaim this territory is pivotal, as it may determine short-term market direction. The ongoing consolidation reflects a tug-of-war between bulls, who aim for a breakout, and bears, who seek to cap further upside. According to Crypto Candy, a successful reclaim of this range could shift momentum in favor of bulls, potentially driving the price toward $116,000–$118,000 or higher.
The Risk of Momentum Failure
If Bitcoin fails to maintain its current momentum, Crypto Candy warns of a potential pullback, allowing bears to gain a short-term edge. A failure to reclaim the $107,000–$108,000 range could result in a market retreat back to lower support levels. Conversely, a breakout above this resistance zone would likely trigger renewed buying pressure, possibly pushing prices higher into the next resistance levels.
BTC Faces Challenges at Resistance and Support Levels
Crypto VIP Signal shared that BTC recently hit a key resistance area, only to be immediately rejected on its first attempt. This rejection emphasizes the presence of strong selling pressure at this level.
Following the rejection, BTC has moved down to the $105,000 support level, described as a crucial defense line against further decline. Crypto VIP Signal warns that a decisive break and close below $105,000 could lead to a significant drop toward $103,000, the next major support.
Anticipated Retest of Critical Resistance Zone
Crypto VIP Signal expects another attempt to retest the resistance area in the coming days. This suggests that the recent rejection could be a healthy setback, granting bulls the opportunity to prepare for breaching the critical ceiling again.