$BTC 📈 Trend & Market Structure (Daily)
Bitcoin remains in a broad consolidation range after recent rallies: price has pulled back from local highs near key resistance zones and is holding above important shorter‑term support levels. BTC is trading in a range rather than a clear breakout trend at the moment. �
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📊 Key Levels to Watch
Resistance (Upside Blocks):
Immediate resistance around $113,600–$115,600 — this zone has acted as a ceiling in recent sessions. �
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Break above ~$120,000 would strengthen bullish breakout potential toward new highs. �
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Support (Downside Floors):
$107,000–$108,000 is a critical daily support zone — holding this level is crucial for bulls. �
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Lower supports to watch if that zone breaks include nearby averages and previous swing areas (~$100,000+ historically). �
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📊 Technical Indicators (Daily)
RSI: Momentum oscillators are in neutral to slightly bullish territory on daily charts, suggesting price isn’t deeply overextended and could continue consolidating or resume up moves if support holds. �
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Volume: Mixed volume patterns near current range indicate trader indecision — not yet a strong trend forming. �
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📉 Price Action & Candle Structure
The recent daily candles show wicks on both sides, reflecting a tug‑of‑war between buyers and sellers. Price rejection near resistance shows profit‑taking, while support levels continue to absorb selling pressure, preserving the broader bullish structure so long as daily closes remain above support. �
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📌 Short‑Term Technical Bias
Neutral to cautiously bullish on the Daily:
Bullish signs: Supported above key daily support and steady demand near $107K–$108K.
Risk: Failure to break above $114K–$115K resistance can keep BTC range‑bound or produce short pullbacks.
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