BTCUSD Eyes $102K – Key Levels and Expectations

#BTCUSDT. #BTC☀ #BinanceSquareFamily #BTCUSDTUPDATE #Write2Earn!

Overview :

Bitcoin (BTCUSD) is approaching a pivotal milestone at $102K, driven by historical patterns and psychological investor sentiment. Here’s a detailed breakdown of the technical analysis :

Monthly Timeframe Insights :

Target : $102K is identified as the nearest major resistance.
Overbought Alert : Historical overbought levels suggest a high probability of a retracement post $102K.

1 Hour Chart Analysis :
Achieved Target : BTC has completed the $98K target based on butterfly and 3-Drive patterns.

Potential Pullback : A retracement to $96.50K (3/8 pullback) is possible, marking the minimal target of the butterfly pattern.

Psychological Level :

$100K Influence : The round-number appeal of $100K is likely to attract strong investor attention, providing momentum to test this level.

Resistance Levels :

Immediate: $100K (psychological barrier).
Strategic: $102K (monthly target).

Conclusion :

Bitcoin’s march to $102K highlights bullish momentum but comes with risks of retracement near overbought levels. Traders should monitor $96.50K as a critical support and manage positions carefully. Aim to capitalize on BTC’s strong upside potential while staying cautious of short-term pullbacks.