- Bitcoin faces resistance at $100K, with a breakout or rejection shaping the trend.
- Key support at $95.5K must hold to prevent a bearish continuation.
- The U.S. jobs report on March 7 could add volatility to Bitcoin’s price action.
Bitcoin—BTC, jumped 9.53% on Sunday after Donald Trump proposed a strategic crypto reserve. Other major cryptocurrencies also saw gains, but doubts remain. Will this rally continue, or is another downturn coming? Traders now watch key resistance near $100K. A breakout could fuel further gains, but rejection might lead to another sell-off. The upcoming U.S. jobs report could add more volatility, making this a crucial moment for Bitcoin’s trend.
Bitcoin Battles Resistance as Traders Stay Cautious
Despite the surge, the daily chart still shows a bearish structure. The price of Bitcoin previously broke below range lows, raising concerns about a fakeout. A lower high at $98.3K must be cleared for a real trend reversal. Until then, resistance remains a major hurdle. Liquidity data shows a strong cluster near $100K. Bitcoin often moves toward high-liquidation zones before deciding on direction.
If price reaches this level, a breakout or sharp rejection could follow. Technical indicators present mixed signals. The Chaikin Money Flow (CMF) stands at +0.15, showing strong buying pressure. Meanwhile, the Awesome Oscillator remains in bearish territory, suggesting weak momentum. With traders split, uncertainty dominates market sentiment.
Bitcoin’s Next Move Hinges on Two Key Levels
The U.S. jobs report, set for release on March 7, adds another layer of risk. A disappointing report could hurt risk assets, including Bitcoin. If sentiment weakens, Bitcoin could struggle to sustain recent gains. Bitcoin must hold $95.5K to prevent a deeper pullback. This level served as support throughout February.
A drop below could confirm a bearish continuation. Meanwhile, $100K remains a major resistance zone. A breakout could trigger a strong rally, but rejection might lead to heavy selling. Market sentiment remains cautious, but Bitcoin often surprises traders.
If buyers step up, momentum could shift quickly. Otherwise, another downturn may be on the horizon. The next few days will determine whether bulls or bears take control.
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