Bitcoin Close Above Key Level Could End Bear Case — Double Top or Bull Breakout Ahead
Bitcoin is once again at a critical juncture, hovering just below a key resistance level around $104,624, as highlighted by analyst MMCrypto.
The crypto market is watching closely to see if BTC can close a weekly candle above this level, which could potentially confirm a massive bullish breakout.
According to the chart, Bitcoin is approaching this resistance for the second time in recent months, creating the potential for one of two major scenarios:
- A double top, which would suggest a bearish reversal.
- A massive bullish continuation, signaling the next leg of the bull run.
MMCrypto emphasized the significance of this move, declaring: “Game over for bears” if Bitcoin successfully closes above the yellow resistance line on the weekly chart.
The coming days are pivotal. If bulls gain control and secure a weekly close above this key level, it could trigger significant upside momentum and invalidate bearish setups. Conversely, failure to break through might reinforce resistance and open the door for a retracement.
As MMCrypto put it: “It all depends on this one move.”
Kosta has reported on cryptocurrency markets and blockchain infrastructure since 2020, bringing over six years of hands-on experience in the crypto industry built through daily tracking of markets, trends, and emerging blockchain developments. Specializing in Bitcoin on-chain analysis, institutional ETF flows, and digital asset price action, his work at Coindoo has been cited by other news agencies and consistently covers market developments with a focus on data-driven reporting across Bitcoin, Ethereum, Solana, and XRP. Over the years, Kosta has contributed to multiple crypto media outlets in different regions, authoring over 6,000 articles across the sector. His reporting spans cryptocurrency markets and the broader fintech industry, tracking not only price action but also the technological and regulatory forces shaping the ecosystem. To support his analysis, Kosta actively leverages on-chain data and metrics from leading platforms such as Santiment, Glassnode, and CryptoQuant, enabling deeper, evidence-based market insights. He believes in the power of transparency and the data that underpins the blockchain ecosystem. His academic background in Marketing Management from Denmark further complements his analytical approach, adding a strong understanding of communication strategy and content positioning to his work.
