Bitcoin’s Road to $106K: Mr. M’s Unshakable Vision
One day in his hometown of Alabama Mr M sat at his desk, eyes glued to the screen, watching Bitcoin’s price action with an almost meditative focus, People would possibly think he was asleep But Mr M wasn't, because in the world of Crypto the markets were never quiet, but today, the charts were speaking to him in a way they had never done before. The numbers, the candlestick patterns and the resistance levels all pointed to one undeniable truth: Bitcoin needed to reach $106,000 before it could truly break into price discovery mode.
He leaned back in his chair, exhaling slowly. The crypto community had been through so much already, yet here they stood, unfazed, unshaken. Just days ago, the shocking news had broken that the Bybit Exchange had suffered a catastrophic $1.5 billion Ethereum hack. Headlines screamed of disaster, sceptics declared the end of crypto, but the true believers, the ones who had seen it all knew better.
Crypto was unstoppable.
Mr M scrolled through his feed, witnessing the resilience of the community first hand. Traders, Developers, and Investors alike didn’t flinch, in fact they knew the hacked Ethereum could never be exchanged for traditional Fiat as this would lead the authorities straight to the culprits. If anything, the hack had only reinforced OG crypto holders conviction.
The numbers, the stick patterns and the resistance levels had instantly dropped to an all time low, almost reaching 0. Mr M then realised he had accidently clicked onto his dating profile tab and quickly moved back to the crypto chart analysis. Bitcoin had weathered every storm thrown at it; the China bans, the regulatory threats and the bear markets that tested even the strongest hands. Every time, it came back stronger and this time would be no different. Mr M knew that once Bitcoin crossed that pivotal $106,000 mark, there would be no looking back. Price discovery mode would kick in, pushing new boundaries and setting new all-time highs.
The greatest bull run was yet to come, and Mr. M had no doubt that history was about to be made once again.
He reached for his phone and typed a simple message into his crypto group chat:
“The storm has passed. $106K is the gateway. We’re about to see something historic.”
The replies came in fast, filled with rocket emojis and laser-eyed determination. The crypto community wasn’t going anywhere. The future was being written, and Mr. M was ready to watch it unfold.
Bullish and Bearish scenarios with liquidation map
The first image suggests a bullish breakout.
The second image indicates a bearish short-term scenario.
The third image provides insight into potential price movements based on liquidation levels.
Explanation of the Three Bitcoin Charts
First Image - Bitcoin Bullish Chart
This chart shows a potential bullish breakout pattern.
It features Elliott Wave Analysis, labeling corrective waves (WXY) and impulse waves.
The price is forming a falling wedge pattern (a bullish reversal structure).
The chart suggests Bitcoin is approaching the end of a corrective wave and could break out to the upside.
Indicators like RSI and MACD may confirm momentum shifting towards an uptrend.
A break above resistance (upper blue trendline) could lead to a rally toward $110,000.
Second Image - Bitcoin Bearish Chart
This is a bearish price action setup with support and resistance zones.
A recent sharp drop indicates selling pressure.
The chart suggests a retracement before further decline.
Key levels:
Stop-loss zone (red box at $97,800): Indicates a point where short sellers would exit if the price moves higher.
Support zones ($95,665 and $94,603): These levels may provide temporary bounces.
Bearish target at $93,241: This suggests that Bitcoin may drop further if the trend continues.
Third Image - Bitcoin Liquidation Heatmap
A liquidation heatmap visualizes areas where high leverage traders may get liquidated.
The red/yellow zones indicate high liquidity, where big liquidations could occur.
The chart suggests price is consolidating around $95,000, with significant liquidity between $90,000 - $110,000.
If Bitcoin breaks key levels, it may rapidly move toward areas with high liquidations due to cascading stop-losses.
Remember guys any decision you make from this explanation this hasn't been financial advice and always remember to “Do big things or do nothing at all”
John Crypto Enthusiast
