Bitcoin has recently surpassed its previous all-time high and breached the resistance level that had formed. However, there appears to be a minor selling pressure, suggesting a potential pullback to retest the previous resistance level before initiating the next rally. Notably, during the previous sell-off, a target level around $102k was maintained, corresponding to the Fibonacci 1.618% retracement. Presently, the current price of Bitcoin seems to be respecting the previous resistance level as a support, indicating a reluctance for the price to retreat back inside or below the previous resistance zone, at least for the time being.
