whats is support for BTC?

Support for Bitcoin (BTC) refers to the price level at which demand is thought to be strong enough to prevent the price from falling further. It is a psychological and technical concept that plays a crucial role in determining the price trajectory of BTC. Here are the key support levels for BTC:

1. **$107,000**: This level has emerged as a critical support point, according to Peter Brandt's analysis. A breakout above this level signals strong upward momentum, with potential price targets at $120,958 and $134,886.
2. **$108,000**: This is a pivotal support level that could determine Bitcoin's near-term market direction, as highlighted by Daan Crypto Trades. A sustained break below this level may trigger a cascade of selling and could signal a shift toward bearish momentum.
3. **$106,500 - $98,500**: These are significant support zones identified by Ali Martinez using on-chain data. The $106,700 range is a formidable near-term support level, and the $95,247 to $98,566 range is a major cushion that could absorb downward momentum if Bitcoin loses footing above $106,000.
4. **$118,200 - $116,500**: These are major support levels identified in the context of Bitcoin's consolidation phase. The $118,200 level is part of a rising channel forming on the hourly chart, while $116,500 is a key support level below which Bitcoin might continue to move down.

In summary, support for BTC is multifaceted, with multiple levels playing a crucial role in maintaining bullish sentiment and preventing significant price declines.