The price of BTC remains over $104K and is consolidating within the range from $103,735 to $105,503.
The nearby CME gap has traders watching closely as it might become important if price action slows down.
Bitcoin’s current low volatility and moderate trading volume are signs that traders are hesitant, unwilling to take action while things remain unclear.
Bitcoin remains stationary in a small range above $104,000 as traders monitor the open CME gap at $102,948. In the last several sessions, small price changes show that traders are holding back while the market remains uncertain.
Bitcoin Consolidates in Tight Range Amid Market Uncertainty
Following its break above $106,000 earlier in the week, Bitcoin has now consolidated. Bitcoin traded 0.6% lower over the last day and sat at $104,026 at the time of writing. The price is being held up by support at $103,735, and resistance might be seen at $105,503. With Bitcoin movement limited, traders are waiting for something major that will encourage a strong directional move.
Unfilled CME Gap Draws Attention
The $102,948 CME gap, yet to be filled, is considered an important technical indicator right now. In the past, Bitcoin has often returned to unfilled CME gaps, so this level may attract price action soon. The gap continues to influence traders’ views, mainly because the price is so close.
https://twitter.com/rovercrc/status/1921808054829408682
Bitcoin Stuck in Range as Traders Weigh Resistance and CME Gap
Although there have been short bullish moves, the market isn’t showing much directional strength. Market volume continues at moderate levels, with no real sign that a breakout may happen. Attention from traders is focused on economic developments and liquidity movements, which keep shaping digital asset prices.
According to analysts, a drop in BTC price to the support area or even the CME gap is possible if resistance at $105,503 holds. Though the gap may remain unfilled in the next few days, it could mean big institutions are not affecting the spot price as much.
Currently, Bitcoin’s price is staying within a range, with technical levels playing the biggest role for short-term traders. It isn’t clear yet whether the CME gap will matter or be forgotten in this cycle. As long as there are no strong signals, this balance may last into the week ahead.
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