Bitcoin at Crucial Supply Zone – Reversal or Breakout?

Bitcoin has now tapped into a major supply zone between $107,543 and $108,586, with today’s high printing at $108,586 before pulling back slightly. This is a significant area of historical resistance as shown by the Visible Range Volume Profile and prior price action.

Key Levels:

Current Price: $108,208

Supply Zone: $107,543 - $108,586 (major seller interest)

Support Zones:

$73,419 (previous ATH zone retest)

$37,871 (mid-term demand support)

$29,847 (macro support and possible bottom scenario)



Scenarios to Watch:

1. Bearish Rejection: A rejection from this zone could send BTC back toward the $73,000 area – watch for a breakdown below $106,000 as confirmation.


2. Breakout Rally: If bulls break above $108,600 and sustain, we could see a momentum-driven run toward $120K+ as price discovers new highs.



Macro Note: With upcoming U.S. economic data marked on the calendar, volatility could spike. Traders should prepare for fakeouts and liquidity grabs near these key levels.

My Bias:
Cautiously bearish at this resistance unless we see a clear breakout with volume.

Let me know in the comments:
Are you going short here or waiting for a confirmed breakout?

#Bitcoin #BTCUSD #CryptoAnalysis #SupplyAndDemand #TechnicalAnalysis #PriceAction


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