If Bitcoin Breaks Below This Level, $19 Billion in Liquidations Will Look Like Peanuts

Bitcoin has been walking a fine line despite the recent market crash. After climbing above $110,000, the market looked unstoppable. Yet now, the chart suggests a more delicate situation, and according to Crypto Patel, a crucial support level could decide whether BTC holds strong or slips into its biggest correction in months.

Right now, Bitcoin trades slightly above $110,000, keeping its long-term bullish structure intact. The price still respects a rising trendline that has guided the rally since early 2023. However, short-term momentum shows cracks. The weekly candles are shrinking, and volume appears lighter than during the previous run-ups.

Crypto Patel points out that the most important zone to watch sits between $104,000 and $105,000. This range has served as the backbone of the current bullish trend. Each time BTC tested it in the past, buyers stepped in with strength, preventing deeper losses. The question now is whether they can do it again.

BTC Price Support Zone Could Decide the Next Big Move

Every bull market needs a line in the sand, and for BTC, that line is the $104,000 trendline. As long as the price stays above it, the overall structure remains bullish. It signals that long-term holders still dominate the market, confident in Bitcoin’s trajectory toward new highs.

If Bitcoin manages to bounce here, Patel believes the next target could sit around $150,000. That would continue the pattern of higher highs and higher lows that has defined this multi-year uptrend. The setup reminds some traders of earlier market phases where BTC consolidated briefly before launching into new price territory.

However, the story changes if that support line breaks. A decisive drop below $104,000 would mean the market is losing strength. That could invite panic sellers, pushing the BTC price first under $100,000 and possibly toward $80,000 in a worst-case scenario. The same trendline that served as support could then act as resistance, flipping the sentiment entirely.

Why Bitcoin Needs to Defend $104k Strongly

Crypto Patel’s chart highlights a clear structure. Immediate resistance sits between $110,000 and $112,500. The trend bias remains bullish above $104,000 but turns bearish below it. The entire market now revolves around this zone.

A breakdown here would mean more than just a short-term pullback. It could indicate a shift from bullish optimism to broader uncertainty. Investors watching this level know how critical it is. A hold above means confidence and potential growth. A break below means caution and possible trend reversal.

For now, Bitcoin is still holding up, keeping its head above the rising blue line. Yet each candle that touches it adds more pressure, making the next move even more significant.

Read Also: Dogecoin (DOGE) Chart Reveals a Dangerous Gap, And It Might Be About to Fill Fast

BTC Price Outlook: Holding Support Could Lead to $150k

The next few weeks could shape Bitcoin’s direction for the rest of the year. If BTC rebounds from the $104,000 zone, the uptrend remains alive, and $150,000 becomes a realistic target. Crypto Patel describes this moment as a “make-or-break” zone, where bulls need to defend structure to maintain dominance.

Losing it, however, opens the door to volatility. Below $100,000, sentiment could shift fast, and $80,000 may not be far away. For traders, this means one thing: all eyes on $104,000.

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Sarah Wurfel
Sarah Wurfel

Sarah Wurfel works as a social media editor for CaptainAltcoin and specializes in the production of videos and video reports. She studied media and communication informatics. Sarah has been a big fan of the revolutionary potential of crypto currencies for years and accordingly also concentrated on the areas of IT security and cryptography in her studies.

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