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As cryptocurrencies fluctuate, analysts have been working tirelessly to decipher the signals. Amid the recent turbulence, Bitcoin has found support at around $105,700, and it appears to have broken previous resistance. A key moment to note is the higher closed candle bodies that indicate a potential for sustained upward movement.
In the short term, traders anticipate that Bitcoin could retest the $108,000 mark again. This process might involve some slight rejection around that area, subsequently flipping the level from resistance to support before advancing further. Ideally, the desired bullish scenario would culminate in Bitcoin maintaining its position above the crucial $100K threshold, ideally leading to a broader altcoin season.