Bitcoin (BTC) continues its upward momentum, showing strength even as political tensions escalate in the United States. On Saturday, BTC closed at $106,332, recording a 0.78% gain over 24 hours despite significant unrest in Los Angeles and a deployment of National Guard troops.
Price Action: Narrow Range With Bullish Momentum
Over the past 24 hours, Bitcoin traded between $105,043 and $106,101, with buyers stepping in near the $105,400 support level. The price briefly dipped below $105,100 before recovering strongly, signaling robust demand during market dips.
The key resistance zone between $105,900 and $106,100 was tested and temporarily broken. Although some profit-taking was observed after touching $106,332, the asset maintained a stable position above $106,000, suggesting a potential setup for a push toward $107,000.
“The ascending structure on the hourly chart with consistent higher lows confirms a bullish continuation pattern.”
Market Sentiment: Traders Remain Focused on BTC
Despite news of over 100 arrests in Los Angeles and the deployment of 2,000 National Guard troops by presidential order, crypto traders have largely ignored macro risks. Military presence, including the arrival of the 79th Infantry Brigade, has failed to derail Bitcoin’s market structure.
“Bitcoin’s resilience signals investor confidence even amid national unrest.”
Additional warnings from defense officials regarding the possible mobilization of U.S. Marines at Camp Pendleton further highlight the tense backdrop. Yet, BTC’s consolidation above key levels indicates that investors view the unrest as localized, not a systemic threat.
Technical Outlook: Bullish Setup for Next Leg
According to technical analysis:
- Support at $105,400 has held firm, reinforcing buyer interest.
- Resistance near $106,100 remains a critical level for a sustained breakout.
- If support near $105,800 remains intact, BTC could challenge the $107,000 level in the coming sessions.
The 1.22% range movement reflects a controlled price action with volume spikes at breakout points, confirming strong participation from both retail and institutional buyers.
Conclusion: Bitcoin Holds Firm Amid Chaos
Bitcoin’s ability to remain stable during political upheaval underscores its growing status as a hedge asset. While traditional markets may react sharply to geopolitical events, BTC continues to attract dip-buyers, suggesting growing confidence in the long-term value of decentralized assets.
“A clear break above $107,000 could set the stage for a new bullish phase.”