Bitcoin’s rally from the $97,860 breakout zone to the $104,300 resistance area marked a clear distribution phase, and now the price is hovering between $104,300 and $102,300. It is easy to see that the price rally slowed down massively in the past 48 hours.
Right now, the most important support levels to watch are $103,300, $102,300, and $101,700, while the resistance levels to new all-time highs are $104,300 and $108,786.
At the time of writing, Bitcoin was trading at $103,670.
Featured image from Unsplash, chart from TradingView
