BITCOIN Holding the level - 98000

Let's not discard the rally just yet. I see the buyers are still present but the overhead supply is a matter of concern.

So, here is my view:

Support level - 98000
As long as the price does not close below 97500 on the hourly chart, this is still a buyers' controlled setup.

Supply zone - All time high is the only and a very strong rejection zone. BTC will find it very hard to hold and break above ATH. So I am not very convinced about the upside momentum.

Possibility:

BTC could slowly further move up here and should form a base.
The consolidation around the drawn levels could be a nice place to play long or wait for the base breakout above ATH.

This is not a recommendation.