Analyst: Bitcoin maintains the $105,500 "key level," long-term outlook remains optimistic
According to TheBlock, BTC Markets crypto analyst Rachael Lucas stated that the price of Bitcoin is at a psychological and technical "critical point," which could determine the success or failure of the bull market. Indicators such as RSI and MACD show that strong bullish momentum is beginning to weaken at least temporarily. However, the long-term outlook remains optimistic. We may be in the early stages of a new super cycle. The support level for Bitcoin is relatively solid around $103,000, with a more robust bottom support at around $97,600.Lucas mentioned two possible scenarios for Bitcoin in the coming days: "If Bitcoin can hold the range of $103,000 to $105,000, it is expected to attempt to rally again towards $115,000. On the other hand, if it falls below $103,000, it could trigger a deeper pullback, with target price levels in the range of $93,000 to $97,000. The latter scenario should not be seen as the end of the overall upward trend, but rather as a signal that the market needs more time to prepare for further price growth. Bitcoin's connection to traditional financial markets is becoming increasingly tight, making it more sensitive to economic data, central bank comments, and geopolitical risks."