Cardano (ada) 
Bitcoin Price Consolidates Within $100,700–$104,700 Range
Bitcoin has remained largely stagnant this week, with its price action confined to a tight range between $100,700 support and $104,700 resistance. This lack of movement and declining trading volume suggests that a breakout may still be on the horizon.
Key Technical Analysis
Bitcoin’s price behavior has been characterized by a clear trading range, making it easier for traders to identify key levels to watch:
- Defined Trading Range: BTC is oscillating between $100,700 support and $104,700 resistance.
- Major Resistance: The $104,700 level serves as a strong confluence resistance, combining the value area high and range high.
- Lack of Volume: Low participation in the market continues to suppress momentum for a breakout.
Resistance at $104,700 Holds Firm
The resistance level at $104,700 has been tested multiple times but remains a significant barrier. This level aligns with the Value Area High and Point of Control from the current volume profile, reinforcing its importance. Similarly, the support level at $100,700 has held strong during recent tests, validating this zone as the dominant short-term structure for Bitcoin.
“Bitcoin’s tight trading range suggests a phase of accumulation or indecision in the market.”
Volume Declines, Limiting Price Movement
A declining volume profile is contributing to Bitcoin’s sluggish price action. Without a notable increase in buying or selling pressure, the cryptocurrency is unlikely to break out of its current range. Repeated candle closures within the $100,700–$104,700 zone further emphasize market indecision and a lack of conviction from both bulls and bears.
Trading Strategy for Range-Bound Markets
For traders, the current structure favors a rotational strategy, which involves capitalizing on price bounces between support and resistance levels. This approach allows traders to make the most of the predictable price movements within the range.
However, it’s important to note that this setup will eventually give way to a breakout. When that moment arrives, a significant spike in volume will be essential to confirm the move and avoid false breakouts.
What’s Next for Bitcoin?
Until Bitcoin decisively breaks above $104,700 or below $100,700 with strong volume support, price action is likely to remain slow and confined to the current range. A confirmed breakout could pave the way for the next leg higher, targeting levels between $107,000 and $110,000.
For now, traders should expect continued sideways movement and clean rejections between support and resistance. Monitoring volume inflows will be crucial for identifying the next major price movement.
