strong buy
Bitcoin Poised for Potential Breakthrough as Support Holds at $105K
Bitcoin (BTC) has experienced a pullback after reaching a record high and is currently trading at $104,536 USD. Chain data suggests a possible rebound above the critical support level at $105K, with a potential retest of the all-time high on the horizon.
Liquidity liquidation maps show concentration around the $109K zone, which acts as a magnet for price movement and creates opportunities for growth toward this level. However, profit-taking increases might pull BTC back below the support level.
Funding rates remain positive despite the recent correction, indicating strong demand for long positions. If demand continues to grow, BTC could aim for $109K.
Bitcoin saw a modest 1% increase over the last 24 hours, bouncing off the support level at $103K. A decisive break below this zone could open the way to the $109K price region, which is rich in positions and potential price action.
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AI Analysis
Bitcoin has been navigating a critical zone between resistance and support levels following its historic high milestone. The current trading price at around $104,536 USD signifies a minor retracement ...
AI Recommendation
Investors should monitor Bitcoin’s current support level around $105K closely. A bounce from this level, combined with sustained positive funding and increased demand, would suggest a continuing rally...
Disclaimer
The AI analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.