Bitcoin is currently trading at approximately $105,500, hovering near a key support level, the market is cautious. Analysts argue that this level is a watershed for the short term direction; if a plummet or test of support at the $103,000 level occurs, holding it may lead to an attempt to reach $115,000. Despite significant fluctuations in the market, the long-term forecast remains optimistic. Analysts at BTC Markets expect that Bitcoin could return to the $115,000 level, which could be the beginning of a new supercycle.