The $105,696 level, coinciding with Bitcoin’s 21-week moving average, remains a critical support point for the market.
$105,696: Why Is It Still a Critical Support Level for Bitcoin?
According to experts, predicting whether it will return to this level may be premature and even pessimistic at this stage.
However, as long as the price remains above $105,696, the current uptrend is assumed to continue. However, a drop below this level is considered a strong warning sign of a bear market.
Over the past three weeks, analysts have been taking a more cautious stance, cautioning investors. Bitcoin has seen some pullback during this period, although market sentiment remains generally positive.
In the short term, some funds from high-volatility altcoins returning to Bitcoin could provide temporary support. However, experts emphasize that investors should remain cautious and limit their risk.
This analysis reflects a technical assessment that has been voiced repeatedly in recent weeks and remains valid.
*This is not investment advice.