Smart Moneyâs Play Zoneâ
Hereâs what Iâm seeing: Bitcoin just broke above a key resistance level, marked by the green downward-sloping line. This could indicate some bullish momentum, but we need to be cautiousâit might be a false breakout if it doesnât hold above $98,200.
Now, check out the white parallel linesâthey form a descending channel, and those arrows point to critical support levels at $97,401 and $96,403. If Bitcoin retraces, those are the areas where we might see a bounce or consolidation.
Right now, weâre at a decision point. If the breakout holds, we could see more upside. But if selling pressure kicks in and it drops back below $97,401, itâs likely heading down toward $96,403. Either way, Iâm watching these levels closely for the next move.
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