Bitcoin Bears Press On — Is $102,000 Flush The Final Washout Before A Rally?

Bitcoin’s price continues to face mounting pressure as it hovers near key support ￰0￱ sellers pushing toward the $102,000 zone, BTC is now at a moment that may mark the final washout before a major ￰1￱ coming days could be decisive in determining whether Bitcoin finds its footing or continues its ￰2￱ Faces Pressure Below $108,000 As Bears Regain Control Crypto analyst Crypto Candy shared insights into Bitcoin’s latest price action, noting that the flagship cryptocurrency tried to hold the $107,000–$108,000 support zone but ultimately failed to do so, closing below that ￰3￱ development signals a potential shift in market dynamics, as the $107,000–$108,000 zone may now act as a strong resistance ￰4￱ Reading: Head And Shoulders Pattern Says Bitcoin Price Is Headed Below $100,000 Crypto Candy further explained that if the downward momentum continues, Bitcoin could retrace deeper toward the $99,000–$101,000 range, an area viewed as a critical support zone where fresh buying interest might emerge.

A dip into this range could also help clear out weak positions and create healthier conditions for a long-term rebound. However, the analyst added that if Bitcoin manages to reclaim and hold above the $107,000–$108,000 zone, it would signal that bullish strength is returning to the ￰5￱ a breakout could restore confidence among investors, paving the way for renewed upward momentum and possibly another push toward higher targets. $102,000: The Ideal Flush Zone Before The Next Big Move In his latest BTC daily update, Super฿ro emphasized the critical role of the $102,000 support zone, describing it as an ideal area for the market to flush out remaining leveraged long ￰6￱ kind of shakeout is often necessary to clear weak hands and set the stage for a more sustainable bullish ￰7￱ Reading: Bitcoin At A ‘Do-Or-Die’ Level As Cycle Faces First Real Test: Analyst Super฿ro further noted that once this cleanup phase concludes, Bitcoin could see a sharp rebound, primarily fueled by a short squeeze from traders caught on the wrong side of the ￰8￱ shorts begin to close their positions, buying pressure could intensify, creating a rapid upward move that reclaims lost ￰9￱ said, the crypto analyst has warned that a break below the $101,000 level would not be ideal, as it might signal that market weakness is deeper than anticipated.

Still, he maintains confidence in the broader picture, highlighting that high-timeframe (HTF) indicators remain supportive of a potential rebound. Presently, the price of BTC is hovering around $104,000, indicating a more than 3% decline over the last 24 hours. Meanwhile, its trading volume has picked up pace, rising by over 79% in the same time ￰10￱ image from Pixabay, chart from ￰11￱