Bitcoin is in a narrow trading range between $104,100 and $114,100, indicating a critical phase for market direction.
Key Technical Aspects
Bitcoin highlights the significance of $104,000 as a lower boundary. A break below this level would confirm exhaustion and continue negative pressure. Sustained movement above $114,000 could open new heights.
Market Structure and Behavior
Most Bitcoin wallets are in profit, leading to increased selling pressure as prices approach resistance levels. However, buyers continue to defend support levels at lower boundaries.
Bitcoin Outlook
The present trading zone defines a critical decision point for Bitcoin. A sustained recovery above $114,000 would confirm renewed demand strength, while weakness below $104,000 would indicate fatigue. These levels will significantly influence future price dynamics.
The current state of Bitcoin represents a decisive moment that will determine whether the market continues to consolidate or resumes its upward trend.
