Bitcoin Faces Key Resistance After 10% Weekly Rally – Confirmation Or Rejection Next?
Summary
Bitcoin (BTC) surged over 10% to a three-month high of $105,500, breaking the $100,000 barrier for the first time since February. The cryptocurrency faces resistance at $104,500, which must be reclaimed as support to confirm a second Price Discovery Uptrend. Analyst Rekt Capital noted that Bitcoin's recent performance mirrors past trends, suggesting a potential dip before reaching new all-time highs (ATH). For BTC to follow this pattern, it must hold the $93,500 support after being rejected at $99,000 and break through the $97,000-$99,000 range. A 5% drop to the $98,500 level could occur, but Bitcoin could also rally directly if it closes above key resistance.
