The $104,000 stage represents a battleground between bullish and bearish narratives. Technically, it anchors the present consolidation vary, with repeated checks demonstrating its significance as assist. Psychologically, it maintains the six-figure threshold that draws retail consideration and media protection.
This stage gained significance after serving as launchpad for earlier rallies towards $108,000. Holding above $104,000 preserves the bullish higher-highs sample, whereas failure may set off stop-loss cascades. On-chain information exhibits substantial liquidity clustering round this worth, amplifying its technical relevance.
Market construction depends upon this assist holding. A sustained break beneath may invalidate the bullish consolidation thesis, probably triggering liquidations towards $100,000. Conversely, reclaiming $105,600 resistance would affirm power and open path to new highs.
This text is for informational functions solely and doesn’t represent monetary recommendation. Please conduct your personal analysis earlier than making any funding choices.
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Editor-in-Chief / Coin Push Dean is a crypto fanatic based mostly in Amsterdam, the place he follows each twist and switch on this planet of cryptocurrencies and Web3.