Price Trend and Levels:
The chart shows price of $BTC has been fluctuating between strong support around $88,405 and a resistance level near its all-time high.
The all-time high region is highlighted in red, indicating strong resistance where sellers have historically outnumbered buyers.
Support Level:
A strong #support zone is established just below $90,000, which has acted as a floor to prevent further declines in price.
Resistance Level:
A notable resistance level exists slightly below the target of $107,000 where past attempts to break through resulted in pullbacks.
Price Movement Analysis:
There was a steep decline post the all-time high reaching towards the support zone.
Following this decline, there appears to be consolidation with bullish movements suggesting recovery efforts.
Target Projection:
A blue arrow projects an anticipated upward movement aiming towards a target of $107,000 if current momentum continues.
Current Position:
At present observation ($101,762), Bitcoin seems to be recovering from previous lows and could potentially challenge previous highs if it sustains its current trajectory.
Overall, despite prior rejections at higher levels and corrections back to established supports, this #analysis suggests potential
NOTE This analysis is for informational purposes only and does not constitute financial advice,
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