Bitcoin Teeters at $104K: Make-or-Break Moment for Bulls
BTC’s knife-edge dance near six figures has traders split—will this be the springboard to new highs or another ’buy the rumor, sell the news’ fiasco?
Correction or breakout? The charts scream volatility ahead as institutional money plays chicken with retail FOMO. Meanwhile, Wall Street ’experts’ still can’t decide if crypto’s a hedge or a hazard—some things never change.
One thing’s certain: when Bitcoin flexes, the whole market holds its breath. Buckle up.
Texas Leads on Bitcoin Reserves
Texas lawmakers passed SB21, the Strategic Bitcoin Reserve (SBR) bill, 24-7 in the Senate, and it’s headed to Governor Greg Abbott’s desk. If signed, Texas will be the third US state with an SBR law, after New Hampshire and Arizona, and the second to invest state funds in crypto.
TEXAS bitcoin Reserve Update:
The Senate has voted to adopt the Conference Committee report (24-7) on Bitcoin Reserve bill SB 21.
Both chambers have now adopted the report, meaning the bill can (finally) go to the Governor’s desk for signing.
Texas SBR incoming. https://t.co/0LlkqNHntC pic.twitter.com/MNOTWCMC6D
The bill allows the Texas Comptroller to create a Bitcoin reserve from state investment funds, guided by an advisory committee. Amendments set a $500B market cap threshold for eligible assets and exclude staking options. This comes as Texas continues to dominate US Bitcoin mining, with the highest mining hash rate.
- Texas to create state-level Bitcoin reserve
- $500B market cap threshold ensures stability
- Mining-friendly environment solidifies Texas’s crypto hub status
Bitcoin Technical Analysis: $104K Pivot or Lower?
On Sunday, the Bitcoin price prediction is mixed as BTC consolidates in a narrow range of $ 105,000 to $10,350. On the 4-hour chart, Bitcoin is testing a downward sloping trendline, with the 50-period EMA at $106,331 capping the rally.
A Doji at $104,894 is a sign of indecision, while a lower high pattern indicates a potential continuation of the downtrend. The MACD is bearish, with a DEEP red histogram and a widening gap below the signal line.
Levels to watch:
- Support: $103,501, $102,141
- Resistance: $106,331, $107,914
A reversal at $103,501 (Hammer or Bullish Engulfing with MACD convergence) could spark a MOVE to $106,331 or higher. Until then, be careful.
For traders, it’s simple: wait for a breakout or reversal. Without confirmation, bearish.
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