BTC Pullback or Launchpad to New Highs?

[umair]

Bitcoin has recently edged back from its near‑record highs around $110 K–$111 K, entering what many analysts describe as a typical “last pullback” before another all‑time high is reached. After testing resistance at ~$111 K, the price retraced into a support zone between $106 K and $108 K—a region often referred to in technical analysis as a fair value gap, where buying interest tends to emerge. If Bitcoin can hold this level, momentum is likely to resume with the next target being the $111 K threshold, and possibly even higher.

On shorter timeframes, traders are watching a similar structure: a breakout above bullish flag or channel patterns, followed by a brief retracement into the same $106 K–$108 K zone. Holding steady here is seen as validation for the recent breakout, potentially leading to another impulsive upward move toward new record territory. The critical fallback level to monitor is $106 K; if that fails, a deeper correction toward the psychological $100 K mark could unfold.

On‑chain metrics add another dimension to the bullish outlook. Data shows significant withdrawals of Bitcoin from exchanges—many thousands of BTC in recent days—indicating accumulation by long‑term holders. Reduced sell pressure coupled with increasing investor confidence bodes well for sustained upward movement. Analysts emphasize that as long as the price stays above key support zones and demand remains strong, Bitcoin is likely staging a healthy pause—not a reversal—to fuel another rally.

Of course, nothing is certain. If selling pressure intensifies and breaks below $106 K, the odds shift toward a larger correction. But prevailing sentiment from both technical and on‑chain perspectives leans bullish. This pause is widely viewed as a strategic shake‑out that clears weaker hands before the next leg up. With a breakout above $111 K still in play, many are betting this is Bitcoin’s final dip ahead of a new era of record highs.