BTC is consolidating below the key resistance zone highlighted in red (~$109,000–$110,000).
The price continues to form higher lows, showing bullish pressure despite rejection in the red zone.
The structure resembles an ascending triangle, indicating a potential breakout.
Upside Target: ~$113,500–$114,000 if the price moves above ~$110,000 with strong volumes.
Support Zone: ~$106,000–$106,300 must hold to keep the bullish scenario intact.
If the support breaks, the price could retest ~$102,000–$103,000.
Small Insights: Repeated retests of resistance suggest that bulls are absorbing supply. A strong push above the red zone could trigger a short squeeze.
Stay alert!
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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.