Top Analyst CrediBULL Crypto Clarifies Bitcoin’s $105,000 Level Dynamics

Market analyst CrediBULL Crypto addressed concerns regarding Bitcoin's price action, particularly the significance of the $105,000 level. Key points from his analysis include:

A drop below $105,000 would not end the bullish trend but would shift the likelihood of a deeper correction.
The critical invalidation point for the uptrend is at $74,000–$75,000, where the previous high-time-frame impulse originated.
The $107,000–$110,000 range is pivotal for potential reversals; falling below this range would necessitate a bearish outlook.
Three scenarios are outlined for Bitcoin's price movement:
- Scenario 1: Unlikely fourth-wave pause; technical invalidation was at $110,000.
- Scenario 2: Bullish continuation with a pullback around $105,000; targets mid-$130,000s.
- Scenario 3: Extended correction that could test support levels around $98,000.
As of the latest update, BTC traded at approximately $110,019 after an intraday low of $108,666.

Bitcoin price analysis