Currently, Bitcoin's price is locked in a narrow range between key resistance and support levels, as observed in the markets.
Current Market Situation
Bitcoin is stuck in a range between $110,000 and $100,169 following a failed breakout at $111,960. This confirms a classic sign of oscillating price action without significant trading volume, indicating possible further movement within this range.
Key Technical Levels
Key levels at this moment: - **Resistance at $110K:** price rejected from this level after a false breakout. - **Support at $100,169:** backed by a swing low at $98,200. - **CME Gap at $108,300:** historically, 90% of CME gaps get filled, which may attract price action soon.
Expectations for Future Price Movement
Bitcoin is likely to remain range-bound this week unless a high-volume breakout occurs. A retrace toward $108,000 is probable due to the CME gap, with $100,000 remaining key support.
The current market situation for Bitcoin indicates the possibility of continued oscillation, but traders are focused on filling the CME gap, which may influence short-term price direction.
