Bitcoin Tests Key Support: Eyes on $103K

Bitcoin is technically bullish in the 4-Hour chart. However, it gave up bullish move from the last days and is now testing the key support zone near $103,033.

1. A pullback to retest the $103,032 with a dip below it, followed by a strong rebound above this level will push Bitcoin price towards $108,550 (dashed green projection).
2. A decisive move towards $108,550 and breakout with confidence could pave the way for further upward momentum towards $113,692(solid green projection).
3. If Bitcoin fails to hold above $103,032 and breaks below this level without a swift recovery, it could indicate a loss of bullish strength and Bitcoin chart will turn to neutral. This may trigger increased bearish activity, leading to sideways movement or a potential decline toward the $99,108 support level (red projections).