Bitcoin is stuck at the 100,000 mark; is the next step a breakout or a pullback?

Recently, the price of Bitcoin has been fluctuating around the psychological threshold of 100,000 USD, with an intense tug-of-war between bulls and bears. Currently, BTC is trying to consolidate its gains, but after encountering resistance at the key level of 102,000 USD, it has begun to pull back and may test the support area of 97,500 USD in the short term.

From a technical perspective:

Resistance: Key resistance levels above are at 101,500 USD and 102,000 USD. If successfully broken, it may reach the area of 104,000 USD or even 105,000 USD. Support: Short-term support levels below are at 98,400 USD and 97,500 USD. If these are broken, it may further drop to the 95,000 USD area. Technical indicators: The hourly MACD has turned bearish, and the RSI has fallen below 50, indicating a bearish sentiment in the short-term market.

The market focus remains on the battle between bulls and bears. If the price can hold above 97,500 USD and rebound, Bitcoin may see a new round of increases. However, if it loses this key support, caution is advised for further adjustment risks.

Keep a close eye on market dynamics and follow Mr. Lin as he analyzes the deeper logic behind the bullish and bearish trends! Will the future direction be steady doubling or a brief pullback? Let's discuss your views in the comments!