Is Bitcoin Bottom In – What’s Next?

Support Lost at $107,300

Bitcoin had slipped below a key support level of $107,300, currently trading near $107,200. This bounce came after a volatile week where bears managed to keep control of the price action. The loss of this support level was significant, as it opened the door for further downside pressure in the short term pushing price to$103,500. However, if Bitcoin can reclaim the $107,300 zone, it could trigger a short squeeze that pushes the price toward the $109,000 resistance, where previous sellers are likely to re-enter.

Bitcoin H4 Visual

Market Sentiment and Capitalization

The Crypto Fear and Greed Index currently sits at 25, reflecting a state of fear across the market. Such low sentiment often indicates that the market is nearing a potential local bottom, as traders become overly cautious.
Meanwhile, the total crypto market capitalization stands at $3.64 trillion, with Bitcoin alone accounting for $2.13 trillion of that figure. This dominance highlights that BTC still drives the broader market’s direction.

Weekend Trading Dynamics

As the weekend begins, low volatility and thin volumes could define the trading environment. Historically, weekends in crypto tend to bring unexpected liquidations due to reduced liquidity and overleveraged positions. Traders should remain cautious as sudden wicks can occur both ways, especially if whales exploit these conditions.

Weekly Outlook: Remain Cautious

Despite the potential for a short-term bounce if $107,300 is reclaimed, the broader weekly outlook remains bearish. The market continues to favor short positions on large counter-trend rallies, as momentum indicators suggest that bulls are still struggling to regain control. Unless Bitcoin establishes a strong close above $109K, rallies are likely to face selling pressure.

Conclusion: Bitcoin’s near-term fate hinges on whether it can reclaim $107,300. Until then, traders should brace for a choppy weekend with limited volume and stay alert for sudden liquidations before the next big move unfolds.

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