Bitcoin Setting Up For ‘Large Move’ Amid $103,000 Retest – Key Levels To Watch
The cryptocurrency market faced a pullback amid the Iran-Israel conflict, with Bitcoin (BTC) dropping 4.5% to around $103,000. Analysts suggest Bitcoin is poised for a significant move, having struggled to maintain support in the $108,000-$109,000 range. Market watcher Daan Crypto Trades indicated that a breakout from the current range of $100,000 to $110,000 is likely within the next 1-2 weeks. Analyst Sjuul noted that geopolitical tensions have historically led to mass liquidations but also subsequent recoveries, predicting a potential new all-time high for Bitcoin post-conflict. Rekt Capital highlighted Bitcoin's stability around $104,400, asserting that as long as it closes above this level, it remains positioned for upward movement. Current support is identified between $102,000 and $104,000, with a critical resistance level at $108,890. Bitcoin is currently trading at $105,085, reflecting a 1.1% increase in the past hour.
