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- Bitcoin is trading at $97,500 and reacting to a critical supply zone, signaling potential for significant movement
- Two possible outcomes: a bullish push towards $100K+ or a retracement to $94K-$96K, aligning with Fibonacci levels
- M5 chart structure holds the key—watch for signs of either continued momentum or a short-term correction
Well, Bitcoin has done it again. The cryptocurrency world is buzzing as BTC reaches $97,500—a figure that, let’s be honest, would have seemed like pure science fiction just a few years ago.
But hold on, because we might be at one of those pivotal moments where things could go either way.
Two Roads, One Bitcoin
Right now, Bitcoin is reacting to a key supply zone. You know the drill: these levels can either spark a breakout that sends BTC soaring or trigger a pullback that forces the bulls to regroup. Let’s break it down.
Scenario 1: The Uptrend Powers On
If Bitcoin continues its bullish momentum, it’s not just $100,000 that’s in its sights—it’s beyond. With this kind of strength, we could see new heights in no time.
The structure on the lower timeframes (M5) is still intact, and as long as buyers hold their ground, the path to higher levels is wide open.
Scenario 2: A Breather Before the Next Move
But let’s not pretend this is a one-way street. Bitcoin might just decide to take a step back. If it breaks the current bullish structure on the M5 chart, we could see a retracement to around $94,000–$96,000.
Why those numbers? They’re the Fibonacci retracement levels of the latest impulse, which tend to attract buyers looking for value.
What’s the Game Plan?
This is one of those moments where Bitcoin forces you to sit up and pay attention. Are we about to ride the bull train to six figures? Or is a short-term correction just around the corner?
For now, keep an eye on the $96,000 level—this could act as a launchpad if BTC does retrace. But if the bulls hold the line above $97,000, the sky’s the limit.
So, what’s your move? Whether you’re a trader, a hodler, or just someone watching the charts like it’s a Netflix drama, this is the time to stay sharp. Bitcoin has never been boring—and right now, it’s writing another chapter in its rollercoaster story.
