Bitcoin encountered resistance at the $102,000 level, triggering a downshift correction. During this correction, BTC may test the lower support threshold at $97,500.
The price recently breached below a supportive trend line at $101,000 on the BTC/USD pair’s hourly chart. However, if it manages to sustain above the $97,500 support zone, there is potential for a fresh increase.
The first significant resistance is encountered around the $101,500 level. If the price decisively surpasses the $101,500 resistance, further upward momentum could be ignited.
In a potent bull scenario, the Bitcoin price could further inflate to test the $104,000 resistance threshold. However, if BTC fails to clear the $102,000 resistance zone, a further decline could follow.
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