Bitcoin Holds Key Support as Bulls Eye $112K Push
Bitcoin tests key breakout zone near $108.5K. Bulls aim for $112K, but downside risk remains if support fails.
- $108.5K is a critical short-term support for Bitcoin
- Holding the zone may lead to a push toward $112K
- A break below $108.5K opens risk to $105K and $100K
Bitcoin is currently at a critical juncture as it tests the $108.5K level — a key support area that has held firm since yesterday’s breakout. This level is acting as a short-term pivot that could determine the next major move in BTC’s price. If buyers manage to keep this zone intact, there’s a strong chance the price could push back toward the $112K resistance level.
Traders are closely monitoring this zone, as it has served as a launchpad for upward momentum in recent sessions. Market sentiment remains cautiously bullish, with the focus still on the upside as long as $108.5K holds.
What Happens If $108.5K Fails?
While bulls are in control for now, a breakdown below $108.5K would change the short-term outlook. If this support fails, the next levels to watch are $105K and $100K. These are critical inflection points where Bitcoin may find new demand or face more selling pressure.
A dip toward these lower levels wouldn’t necessarily mean the end of the broader uptrend, but it would signal a period of consolidation or correction. Traders and investors should stay alert and reassess the outlook if price approaches these zones.
Outlook: Focus Remains on the Upside
Despite the risks to the downside, the primary focus remains on the bullish scenario. If Bitcoin can hold $108.5K and reclaim upward momentum, a retest of $112K could come swiftly. Above that, the market could aim for even higher levels as confidence builds.
Market participants should watch for confirmation — either a bounce from the current zone or a breakdown that could shift the bias. For now, $108.5K is the level to watch.
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