BITCOIN (BTCUSD): Will We Test ATH Soon?

Following a strong upward trend in Bitcoin this week, the price reached the resistance line of a rising parallel channel and began to retrace.

I see a classic support cluster forming within a horizontal range and the support line of the channel on a 4-hour timeframe.

Currently, the market is testing this zone.

I predict that there will be a bullish rebound leading to further upward movement, possibly reaching 106,000 and potentially even testing the all-time high.

Conversely, if the price managed to break and close below the confluence zone, that would be a strong bearish signal.