BTC/USD – Major Resistance Holding | Will This Lead to a Deep Pu

Bitcoin is currently testing a strong supply zone near $104,000, as shown on the 4H chart. This zone has rejected price several times, suggesting institutional selling interest.

Key Levels to Watch:

Resistance Zone: $103,800 – $104,500 (supply zone)

First Support: $91,916 (previous range high)

Major Support Zone: $82,829 – $83,547 (confluence of historical resistance and visible demand)

Demand Zone Below: $76,800 – $82,800 (strong bullish base)


Analysis:

Price is consolidating near the resistance, forming potential distribution.

A break below $100K could trigger a liquidity sweep toward $91,916.

If momentum builds on the downside, expect buyers to step in near 83K - 82K, the next high-probability demand zone.

Red arrows mark likely pullback zones if sellers dominate.


Events Ahead:

Upcoming US economic news (highlighted with icons) may trigger volatility.

Watch for volume spikes and bearish confirmation candles on lower timeframes before entering shorts.


Trading Plan:

Short Idea: Look for rejection patterns below $104K with targets at $91.9K and $83K.

Long Setup: Wait for bullish price action near 82K demand zone.