Bitcoin price is sitting on a critical support level that could shape its next big move. According to popular analyst Ali, holding the line near $107,200 could spark a strong reversal and open the door for a fresh rally. His latest chart lays out the key areas to watch if bulls want to take control again.
What you'll learn 👉
What the BTC Chart Is Showing
Ali’s daily chart of Bitcoin highlights how important the $107,200 zone has become. After a week of steady declines from above $118,000, Bitcoin is now testing this level. The chart sketches a couple of possible outcomes from here.
In the bullish case, Bitcoin price keeps defending the support and begins to climb back toward $115,000, a spot where heavy selling kicked in earlier this month. If buyers can push through that range, Ali’s roadmap points to another move higher, targeting resistance near $123,000, close to the summer highs.
The alternative path is less dramatic. That would suggest BTC will take a few days to consolidate within the range of $107,000 to $111,000, building up momentum before trying a larger breakout.
Why $107,200 Matters
This price point isn’t just a random line on a chart. It has acted as a key pivot more than once over the past few months.
Back in early September, Bitcoin price bounced from this same region and went on to rally past $118,000. By holding above it now, the market keeps its broader uptrend alive and gives bulls a clear level to defend.
If that floor breaks, though, the picture changes. A decisive move below $107,000 would hand more control to sellers and could drag the market down to the next major demand zone between $104,000 and $105,000.
BTC Price Market Outlook
Today, Bitcoin price is clinging to $109,000, lower on the day but far enough away from harm’s way. As long as bulls hold $107,200, it could gather new momentum and set the stage for a push higher toward $115,000.
Breaking that hurdle would likely draw even greater trader interest and could hasten the push higher toward the upper resistance Ali is tracking.
In the meantime, the market is at a juncture. A strong rebound off this support would confirm the bull case, and a clean break below it would shift the outlook overnight.
In either case, the following sessions will be important to see if Bitcoin is in for a reversal or more downside is ahead.
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