The analysis of the Bitcoin market highlights significant price levels where participants are focused. The evaluation emphasizes the potential for reaching record values.
Current Market Situation
Bitcoin ([BTC](https://cointelegraph.com/bitcoin-price 'null')) has preserved significant gains at the $105,000 level. Weekend volatility led to new multi-month highs, driven by a lack of liquidity during 'off-hours'.
Support Level Analysis
Popular trader and analyst Rekt Capital noted that for price discovery to begin, Bitcoin must close the week above $104,500. This will be a key support level.
Trader Opinions and Market Outlook
Some market participants remain bearish, suggesting that the current trend might be a false signal for long positions. Trader Il Capo of Crypto warned that a correction could entirely reverse recent gains.
The Bitcoin market remains under pressure from uncertainty, and traders must monitor key levels to assess further dynamics. It is crucial to make informed decisions based on the current market situation.
