Not much to see here – Bitcoin continues to range quietly between support at ~$100,700 and resistance at $112,000. Price is hovering just above the 50-day moving average, which has flattened out, signaling a pause in momentum rather than a directional shift.
The recent higher low around $100,700 remains the key structural level to watch. As long as that zone holds, the bullish bias technically remains intact, but the lack of follow-through toward the highs suggests weakening momentum. Volume continues to decline, which is typical during sideways consolidation and often precedes expansion – but there's no sign of that happening yet.
A breakout above $112K would likely trigger momentum buyers, while a breakdown below $100K could put $92,800 and even $88,800 back on the table. Until then, it's just rangebound chop – and patience is the only real trade.
Nothing broken, nothing confirmed – just a waiting game for now.
The recent higher low around $100,700 remains the key structural level to watch. As long as that zone holds, the bullish bias technically remains intact, but the lack of follow-through toward the highs suggests weakening momentum. Volume continues to decline, which is typical during sideways consolidation and often precedes expansion – but there's no sign of that happening yet.
A breakout above $112K would likely trigger momentum buyers, while a breakdown below $100K could put $92,800 and even $88,800 back on the table. Until then, it's just rangebound chop – and patience is the only real trade.
Nothing broken, nothing confirmed – just a waiting game for now.
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.