Bitcoin’s Key Support Levels and Market Signals
- Crypto analyst Kevin highlights a crucial support range for Bitcoin between $107K and $98K as pivotal for the next bull cycle.
- BTC dipped to $108,651 amid bearish sentiment, with Kevin emphasizing that disciplined traders should not be surprised by this drawdown.
- Kevin notes that symmetrical triangle patterns in crypto rarely break to the upside, with major cryptocurrencies failing to clear resistance levels since late-2023.
- Total2 market cap faces resistance at $1.71–$1.74 trillion, with momentum indicators like RSI and MACD rolling over.
- USDT dominance is highlighted as a reliable compass, showing a macro descending triangle pattern with flat-bottom support near 3.9–3.7%.
Kevin stresses the importance of Bitcoin holding above $106.8K to maintain the current cycle, while also identifying key resistance levels for potential upside triggers at $125K and USDT dominance near-term resistances at around ~59%. He advises patience and risk management until inter-market signals flip in favor of altcoins.
Kevin’s analysis underscores that Bitcoin’s price action aligns with historical seasonal trends, suggesting significant moves may occur soon if macroeconomic data supports it in October (Source).
