Bitcoin at Crossroads: $105K Breakout or Crash to $97K?

by Ouess

Veteran trader Peter Brandt has issued a sobering warning – Bitcoin’s current price action eerily resembles the 2021 market top. With BTC struggling below $105K, could we see a repeat of the 77% crash from 2021-2022?

Troubling Parallels to 2021 Top

Bitcoin’s 7-month consolidation between $60K-$105K mirrors the:

  • 2020-2021 distribution phase ($30K-$65K range)
  • Subsequent 77.5% crash to $15.5K

Brandt notes: “Fundamentals are always brightest at tops” – suggesting strong institutional interest might actually signal danger. A similar drop from current levels could send BTC to $23,600.

Key Levels to Watch

The $105K-$106K zone has become Bitcoin’s make-or-break level:
✅ Resistance: Repeated rejections at $106K (van de Poppe)
✅ Support: $104,124 (Ali Martinez) → Break could trigger drop to $97,405
✅ Critical: Golden Cross formation (50D/200D MA) suggests long-term bullish potential

Bullish vs Bearish Arguments

Bear Case (Brandt):

  • Failed breakouts mirror 2021 distribution
  • Strong fundamentals often precede corrections
  • Breakdown could test $97K then lower

Bull Case:

  • Golden Cross historically brought 49-125% gains
  • 60+ companies recently added BTC treasuries
  • Trump-led institutional hype continues

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