Bitcoin Analysis: Is the range of 103,500–112,500 dollars a realistic target?

Trader Banmuxia has published a detailed technical analysis, indicating a potential upward scenario for Bitcoin. According to market experts, the current price is around $90,910, which represents a key turning point for further movements.

Current Market Dynamics and Technical Support

In recent sessions, we observe the formation of a wedge, originating from levels of $80,500. If we look at the correction wave structure, the current decline potentially constitutes the third wave of a larger movement. The market shows stabilization around the Fibonacci ratio of 0.382, which traditionally indicates the possibility of resuming an upward trend.

The key support zone is situated between $89,000 and $90,000. This level corresponds to strong concentration points that could prevent further declines. Assuming the correction does not exceed the zone of $93,100–$83,800, upward possibilities remain open.

Growth Target in 30 Days Perspective

Over the next month, the market expects Bitcoin to test the range of $103,500–$112,500. However, the path to this target will not be straightforward – investors should prepare for volatile price action with subsequent waves of fluctuations.

Analysts emphasize that although the direction appears bullish, the path to realizing this scenario will be bumpy and full of tense moments. Patience and discipline in managing positions will be crucial to maximize the potential of this target range.