Bitcoin is in no rush to pick a direction. The world’s largest cryptocurrency has been bouncing between support and resistance. Right now, Bitcoin is holding support between $106,700 and $107,600. Every dip into this zone has been met with buying. On the other side, resistance around $113,000 to $113,500 has been tough to break, keeping a lid on rallies.
According to an analyst, this is a classic case of consolidation: the price climbs, gets rejected, falls back, and then bounces again. Until one of these walls gives way, Bitcoin is likely to keep moving sideways.
On the weekly chart, Bitcoin is still technically in a bull market, indicated by the super trend signal staying green. But there’s a catch. A big bearish divergence is showing up, and it’s been playing out for over a month. That simply means momentum is slowing down, which often leads to more choppy trading before the next real move.
Even the 3-day chart is giving mixed signals. The MACD is edging toward a bullish crossover, but it’s crawling there instead of charging. Traders looking for a breakout will probably need more patience.
If Bitcoin can finally push through $113,500, the next target is around $117,000. But if it slips below $106,800, sellers could take control, and we might see a move into deeper support levels.
Liquidation data shows hot spots at both ends of the range:
That makes it possible Bitcoin sweeps both zones, hitting stop losses above resistance and below support, before settling back into the same sideways range.
Bitcoin dominance has started to bounce slightly. Historically, that’s bad news for altcoins, at least in the short term, since money tends to flow back into Bitcoin. Ethereum, for instance, has been stuck between $3,900 and $4,900, mirroring Bitcoin’s indecision. Solana is also showing new patterns but hasn’t broken out either.
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