Bitcoin Hugging The Daily 50 MABitcoin continues to hover in familiar territory, and today’s chart doesn’t add much new drama – but it does offer some useful structure to work with.
Price is grinding just above the 50-day moving average, which currently sits around $104,000. That level has provided reliable support over the last few weeks and is now reinforced by horizontal support from the prior range breakout. A clean bounce here keeps the door open for another attempt at the $112,000 high, which remains the key resistance level to reclaim.
Below the current price, the structure is layered. The next major support sits around $100,700, and below that, the psychological $100K mark acts as a backstop. A break below that level could set the stage for a deeper pullback toward $92,800 or even $88,800 – both of which served as prior resistance and could now act as support.
Momentum remains weak, volume is nothing to write home about, and volatility has tapered off. But this type of coiling action often precedes a bigger move. The good news for bulls is that despite the chop, Bitcoin has consistently made higher lows – a sign of quiet accumulation and underlying strength.
Bottom line – Bitcoin is range-bound but respecting structure. As long as it holds above $104K, bulls are still in the game. Break below $100K, and the picture changes quickly. Stay nimble.
