BTC/USDT Analysis – Breakout from Sideways Range

Hello everyone! This is the trader-analyst from CryptoRobotics with your daily market update.

As expected, Bitcoin dropped to the local low yesterday. At the time, there was no sign of buyer support, and the price moved down to the next support level.
Just around $300 short of a round-number level, a strong absorption of market sell orders occurred, and we saw a rebound.

At the moment, the price has reached the range of accumulated volumes within the sideways channel — $104,500–$105,800 — which is currently positioned short. Therefore, the priority scenario is another wave of decline toward the $101,600–$100,000 zone.

If there is no selling reaction in that area, we’ll then expect Bitcoin to move to the next supply zone.

Supply Zones:

$104,500–$105,800 (accumulated volumes)

$107,000–$109,800 (accumulated volumes)

Demand Zones:

$101,600–$100,000 (previous push-volume zone + current buyer defense)

$98,000–$97,200 (local support)

$93,000 level

$91,500–$90,000 (strong buy-side imbalance)

This publication is not financial advice.