Critical Bitcoin Price Level to Watch
$100,000-$103,000 is Bitcoin’s make-or-break zone – Breaking below could trigger a sharp correction
Analyst warns of potential “red week” followed by consolidation if support fails
Downside target at $88,000 (key Fibonacci level) if breakdown occurs
Holding support could spark rally to $130,000+ – Next major resistance level
Bitcoin at a Crossroads: Bullish or Bearish?
Crypto trading expert Master Ananda has identified $100,000-$103,000 as Bitcoin’s crucial support zone in a May 31 TradingView analysis. The market is currently testing this level after pulling back from recent highs near $112,000.
Two Possible Scenarios:
Bull Case (Support Holds):
Sharp rebound expected
Potential push to new all-time highs above $130,000
Confirmation of ongoing bullish trend
Bear Case (Support Breaks):
Likely “red week” of losses
Sideways consolidation period
Possible drop to $88,000 support level
Why This Level Matters
Psychological barrier – Round-number support often acts as strong defense
Technical significance – Convergence of multiple indicators in this range
Liquidity zone – High trading activity historically at this level
Long-Term Outlook Remains Bullish
Despite short-term uncertainty, analysts maintain positive expectations:
Bitcoin just recorded its highest monthly close ever in May
The current pullback may represent a buying opportunity for late entrants
“Cup and handle” pattern suggests $125,000 target (per analyst Mags)
Current Market Status
Price: $104,009 (0.5% daily gain, 5.5% weekly loss)
Immediate focus: Reclaiming $105,000 resistance
Key indicator: $100,000 support holding or breaking
What Traders Should Watch
$105,000 breakout – Could confirm continuation of bullish trend
$100,000 breakdown – May trigger stop losses and increased selling
Trading volume – Sustained buying needed to maintain upward momentum
Expert Takeaway
“Between $100,000 and $103,000. If this level breaks, prepare to see Bitcoin producing another week red then consolidation, on and on, before the next high,” warns Master Ananda, while maintaining long-term bullish outlook.
