Yigit Taha OZTURK 
Bitcoin (BTC) continued its upward movement after the FED interest rate decision, reaching the 105,000$ level, and is now at a critical point. Specifically, 4-hour candle closes above 105,400$ will determine Bitcoin’s direction. If Bitcoin fails to break this level, it could face strong selling pressure again, causing the price to move downward quickly.
Bitcoin Expectations
Currently, the charts suggest that Bitcoin may see a short-term rise towards the 107,000$ level. However, this movement may be temporary, and even if the 107,000$ resistance is broken, further declines are still expected. The USDT.D (Tether Dominance) index plays an important role here. USDT.D has already filled its FVG (Fair Value Gap) and reached its OB (Order Block) level. If USDT.D reacts from here, it could trigger a Bitcoin decline and confirm the downside scenario.
Bitcoin Resistance and Support Levels
- Resistance Levels:
- 105,400$: This level is crucial for the short-term uptrend. If Bitcoin breaks above this level, the price may accelerate upward. However, there is also the possibility of strong selling pressure at this level.
- 107,000$: If Bitcoin breaks this resistance, it could trigger a faster uptrend. However, a sustained close above this level could trigger more buying momentum, making the move more significant.
- Support Levels:
- 102,800$: The first major support for Bitcoin. If this level is lost, the price may retrace towards the 98,800$ level.
- 98,800$: This is a strong support level for Bitcoin. If the price falls below this level, it could open the door for deeper declines.
USDT Dominance Analysis
If Bitcoin breaks 105,400$ and moves towards 107,000$, this rise could align with a reaction from USDT.D. However, investors should be cautious, as there is a strong possibility that the price may reverse after this rise. How long Bitcoin stays at the 107,000$ level and whether it can break through this resistance will depend heavily on the volume movements and USDT.D‘s response.
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On the other hand, if Bitcoin loses the 102,800$ support, it may retrace to 98,800$. Buyers could step in at this level, but this will depend on the overall selling pressure in the market.
Bitcoin (BTC) is currently trading at a critical level of 105,000$. If Bitcoin manages to close above 105,400$ on a 4-hour chart, it could move towards 107,000$. However, the overall market conditions, especially the reaction from USDT.D, will play a pivotal role in determining Bitcoin’s future direction. Therefore, investors need to closely monitor both Bitcoin’s price movements and USDT.D’s behavior to assess the potential next steps.
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