Recent price fluctuations for Bitcoin indicate stabilization around the $110K mark. This article examines the current market conditions and trends.
Daily Chart
On the daily timeframe, Bitcoin has broken below its ascending channel but found support near the $110K region, aligning with the 100-day moving average. The RSI is at 44, indicating weak momentum but not oversold conditions. This suggests that the market is in a pause phase waiting for either rebound confirmation or deeper retracement.
4-Hour Chart
On the 4-hour chart, Bitcoin broke out of a steep descending channel and is now moving within a smaller rising channel. The price is currently retesting the $110K-$111K zone, which has become key short-term pivot. RSI is balanced around 49, reflecting market indecision.
Onchain Analysis
Exchange reserves continue to show a sharp and consistent decline, reaching multi-year lows. This indicates that more Bitcoin is moving off exchanges into cold storage, a clear sign of long-term accumulation and reduced sell-side supply. Historically, such drawdowns in reserves have supported bullish trends even during corrective phases.
The analysis of Bitcoin prices shows signs of stabilization, but traders should closely monitor key support and resistance levels to determine further dynamics.
