"Well, the bitcoin price action was looking quite bearish after last week's close, but the bulls managed to maintain the bullish structure around the $90,000 level and made that push up to $98,000 resistance. The price retreated from there and closed the week out at $93,638. Expect the bulls to take another run at the $98,000 resistance level this week and aim for the upper end of this resistance zone at $103,500 if they can sustain price action above $98,000."
"The bulls will look to regain the $94,000 level as short-term support this week. If they can keep the momentum going, they will once again challenge the $98,000 resistance and try to push to the upper end of this zone at $103,500. Closing days at the upper end of this zone should usher in a move up to the next major resistance zone at $106,000 to $109,000."
Bitcoin closed the week at $93,638 after bulls sustained structure around $90,000 and pushed up to $98,000 resistance before retreating. Bulls aim to regain $94,000 as short-term support and, if momentum holds, re-challenge $98,000 and target the upper resistance zone near $103,500. Strong resistance sits at $106,000–$109,000, with $116,000 as a further upside at the 0.786 Fibonacci retracement if strength persists. Key support levels to defend include $91,400, $87,000, and $84,000; a break below $84,000 would expose the low $70,000 area to testing.
Read at Bitcoin Magazine
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