Bitcoin bulls await a breakout past $100K – Here’s why

AMB Crypto 10 months ago 243

Bitcoin faced significant resistance between $98K and $100K.
Shrinking exchange reserves and inflows signaled reduced selling pressure, leaning in favor of long-term bullish sentiment.

Bitcoin’s [BTC ($106,029.00)] journey to reclaim the psychological $100K price level has encountered a stiff resistance. At press time, the price hovered near a key pennant supply zone between $98K and $100K.

This key resistance zone has proven challenging for bulls, as short position takers were defending it vigorously.

Breaking through this resistance level is vital for Bitcoin to continue its upward trajectory and avoid a potential bearish reversal.

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