BTC at Critical Inflection Zone: Breakout or Pullback

🔍 Technical Analysis Overview
1. Current Price Action
Current Price: ~$104,129

BTC is trading within a key resistance-turned-support zone (around 104,000–104,900).

Price has been consolidating near the upper boundary, indicating indecision or preparation for a breakout.

2. Support/Resistance Zones
Resistance (now support): 104,000–104,900

Target 1 (downside): ~96,969 (near previous resistance + EMA 50 level)

Target 2 (upside): ~109,525 (projected move if breakout occurs)

3. EMA Levels
EMA 50: 100,446 – Could act as dynamic support in a pullback.

EMA 200: 93,676 – Stronger trend support, much lower.

4. Price Structure & Pattern
A potential ascending triangle or range formation at resistance is visible.

The red arrow suggests a possible short trigger on rejection from the top of the zone.

If price breaks down from the support (around 104,000), a bearish move toward 100,000–97,000 may occur.

📈 Scenario Outlooks
🔵 Bullish Scenario
A confirmed breakout above 104,900 (Break Sell Zone) may lead to:

Continuation toward 109,525

Needs volume confirmation and candle close above resistance

🔴 Bearish Scenario
Rejection at current resistance and break below 104,000 support could trigger:

Drop to Target 1 (96,969), supported by the 50 EMA

Possible bounce around 100,284 minor support first

✅ Summary
Key Decision Zone: 104,000–104,900

Watch for breakout or breakdown confirmation

EMA 50 & previous resistance at 100,000 area could act as interim support

Trend remains bullish unless the price decisively breaks below the 50 EMA