Bitcoin is once again pressing against the midpoint of its recent trading range after bouncing off the 50-day moving average near $105,000. Today’s candle shows solid follow-through from that bounce, reclaiming short-term structure and closing back above the key $105,787 level.
The broader structure remains a consolidation between $100,700 support and $112,000 resistance – with Bitcoin repeatedly testing both boundaries without breaking out. The most recent rejection at $112K marked the second failed attempt to clear that level, suggesting the presence of strong supply overhead. However, the continued defense of $105K and especially the higher low at $100,700 keeps the bullish structure intact for now.
The 50-day moving average has now been tagged multiple times and held as dynamic support, reinforcing its relevance in this trend. Meanwhile, the 200-day MA remains well below at $95K, and continues to slope upward, confirming broader trend health.
Volume remains relatively light during this bounce, which could be a cautionary signal for bulls hoping to see a breakout attempt. A move above $108K–$110K would likely re-ignite momentum toward the $112K top of range, while a clean break above $112K would open the door to a measured move toward $120K.
To the downside, the $100,700–$101,000 area is the line in the sand. A break below that level would invalidate the current higher low structure and put the $92,800 and $88,800 zones back in play as support.
In short, Bitcoin is still range-bound, but technically healthy. The bulls are defending key support levels and the 50 MA, while bears remain active at resistance. The next directional break – above $112K or below $100K – will likely dictate the next major move.
The broader structure remains a consolidation between $100,700 support and $112,000 resistance – with Bitcoin repeatedly testing both boundaries without breaking out. The most recent rejection at $112K marked the second failed attempt to clear that level, suggesting the presence of strong supply overhead. However, the continued defense of $105K and especially the higher low at $100,700 keeps the bullish structure intact for now.
The 50-day moving average has now been tagged multiple times and held as dynamic support, reinforcing its relevance in this trend. Meanwhile, the 200-day MA remains well below at $95K, and continues to slope upward, confirming broader trend health.
Volume remains relatively light during this bounce, which could be a cautionary signal for bulls hoping to see a breakout attempt. A move above $108K–$110K would likely re-ignite momentum toward the $112K top of range, while a clean break above $112K would open the door to a measured move toward $120K.
To the downside, the $100,700–$101,000 area is the line in the sand. A break below that level would invalidate the current higher low structure and put the $92,800 and $88,800 zones back in play as support.
In short, Bitcoin is still range-bound, but technically healthy. The bulls are defending key support levels and the 50 MA, while bears remain active at resistance. The next directional break – above $112K or below $100K – will likely dictate the next major move.
scott.melker@texaswestcapital.com
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
scott.melker@texaswestcapital.com
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.