Bitcoin at Critical Support – What’s Next?
2025-02-03
Category: None

Hey traders! 👋 Welcome back to another deep dive into Bitcoin price action! Today, we’ll analyze BTC using Gann-based levels and discuss the key support and resistance areas that could dictate the next move. Let’s jump in!

📊 Market Update:
Bitcoin recently dropped sharply, reaching a low of $91,231, before bouncing back towards $95,342. This indicates a strong reaction from buyers at a key support level. But is this the start of a recovery, or just a relief bounce before another leg down?

🔴 Key Support Levels:
1️⃣ $91,231 – This level acted as a solid demand zone, leading to the current bounce.
2️⃣ $89,294 – If BTC fails to hold above $94,084, we could revisit this lower support.
3️⃣ $84,631 – A breakdown below $89,294 could push BTC deeper into bearish territory.

🟡 Key Resistance Levels:
1️⃣ $94,084 – Bitcoin is currently testing this level; flipping it into support is crucial.
2️⃣ $98,993 – A break above this level could signal a reversal and bullish momentum.
3️⃣ $104,030 – If bulls regain control, this is the next major resistance zone.

📉 Potential Scenarios:
✅ Bullish Case: If BTC stays above $94,084 and breaks $98,993, we could see a push towards $104,030 and beyond.
❌ Bearish Case: If BTC faces rejection at $94,084 and loses $91,231, the next downside targets are $89,294 and possibly $84,631.

🚀 Final Thoughts:
Bitcoin is at a critical decision point! Will bulls take control and push higher, or are we heading lower? Drop your predictions in the comments!