Bitcoin continues to operate sideways with minimum volatility of several days. The price remains stuck in a narrow range, which suggests that a break could be imminent since compression reaches its apex over the weekend.
Bitcoin (BTC) The price action has stagnated, maintaining a narrow range for more than a week as volatility constantly decreases. With strong technical limits at both ends of the range, merchants are now looking for a break that can dictate the next important movement.
Key technical points
- High strength range: $ 105,000
- Low support range: $ 100,700
- MARKET STRUCTURE: Balance formation similar to a flag shows price compression
In the last eight days, Bitcoin has consolidated between resistance to $ 105,000 and support for $ 100,700. These levels have defined a structured negotiation channel, maintaining the strongly linked price. Intradía action shows a balance or developing flag formation, marked by the decrease in volatility and the reduction of price movement.
This compression market indicates indecision and balance between buyers and vendors. Historically, such configurations often precede acute outbreaks. As the price accumulates towards the vertex of the flag, it is likely that the impulse will be developed for a decisive movement. Any rupture will need confirmation of the volume increase and a strong closure outside the established range.
Another factor to monitor is the decrease in volume in the main exchanges. This reduction reinforces the idea that market participants are waiting for a clear directional movement.
\ Historically, low volume consolidations near key levels often precede volatility peaks. An upward break would probably require a sudden influx of purchase side volume to overcome resistance. On the contrary, a downward movement without a strong volume can result in a falsification, quickly going back to the range.
Until then, Bitcoin is likely to continue oscillating between support and resistance, offering opportunities for short -term rank merchants, while larger movements remain waiting.
What to expect in the next price action
If current compression persists, it is likely that a breakout is within the next three to five days. Weekend trade can remain off, but at the beginning of next week it could bring the necessary volatility to break the range. Unless the price is closed above $ 105,000 or less than $ 100,700 with volume confirmation, the range is expected to remain intact. Merchants must remain patient and alert by the signals of directional intention as the price is close to the apex.