Bitcoin Rally Shows Signs of Cooling as Traders Eye Key Support Levels 📉
Bitcoin's recent surge appears to be losing steam, causing traders to focus on important price levels amidst growing market caution. Following weeks of significant gains, Bitcoin is currently around the $105,000 mark, leading to speculations of a consolidation phase.
Bitget Research Chief Analyst Ryan Lee suggests this pullback represents a natural cooling off, following increased trading volumes. Lee expects Bitcoin to possibly consolidate between $103,000 and $108,000, with the crucial psychological support at $100,000. If this level is breached, downside targets between $97,000 and $93,000 could be tested.
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