Bitcoin has just broken out above the $97,000 resistance level, sparking excitement across the crypto market.
At the time of writing the price of BTC is around $97,300. But as highlighted by analyst @ali_charts, the key question now is: Is this a true breakout or just a deviation before a potential pullback?
Technical Snapshot
The 1-hour candlestick chart shows BTC surging above a crucial resistance zone around $95,700, a level that had acted as a ceiling for several days. This bullish momentum could signal the start of a move toward the next major psychological target of $97,500 and possibly beyond.
However, the current price action also raises caution. If this breakout fails to hold and Bitcoin closes back below $95,700, it could be a deviation—a false breakout designed to trap bulls—possibly leading to a short-term reversal back into the prior range between $93,000 and $95,000.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/whats-next-for-bitcoin-after-skyrocketing-past-97000/