base-pidgin

Bitcoin Defends Support at $96k: Can BTC Target $105k Next?

Bitcoin (BTC) has defended its short-term mid-range support at $96k, sparking hopes of a rebound. Here's what you need to know:

Key Statistics:

- Mid-range support: $95.8k
- Short-term lows: $94.5k
- Liquidity cluster: $105k

Market Analysis:

BTC has formed a range beneath $100k, with bulls defending the mid-range support. The A/D indicator shows buyers are eager to add BTC to their holdings near support. However, the MACD is bearish, signaling waning bullish momentum.

Key Takeaways:

- Bitcoin has defended its mid-range support, sparking hopes of a rebound.
- A liquidity hunt could drive BTC to $94.5k, but a move higher to $105k is more likely.
- Falling Open Interest indicates speculators are waiting for the market to break the range.
- Bitcoin's consolidation around $100k has built intense liquidity at $105k, making a visit to this level highly likely.

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