Bitcoin consolidates near $103,900 after sharp CME volatility with institutional activity signaling strong support around key levels.
Analysts see $93K–$94K as worst-case dip while ascending trend channels and volume patterns point to continued bullish structure.
Wyckoff analysis shows Bitcoin in final accumulation phase with breakout potential, indicating a powerful rally may be on the horizon.
Bitcoin showed sharp volatility heading into the weekend, trading at $103,940.27 on CME. Friday’s session saw heavy price movement before tapering off into slower weekend action. Daan Crypto Trades noted that, without a major catalyst, Bitcoin may remain range-bound until Monday.
Source: Daan Crypto Trades
The 15-minute CME chart revealed a sharp correction from above $106,000 down to consolidation near $103,900. A price gap formed between the CME Close and Open. This highlighted the contrast between Bitcoin’s 24/7 trading and CME’s structured schedule. Volume patterns confirmed that this gap saw volatility and institutional positioning. A horizontal dotted line at $103,741 marked a key support/resistance zone. Additionally, algorithmic interest appeared anchored around $103,940, signaling institutional-level magnet zones.
Institutional Patterns Confirm Rising Support
Besides the weekend volatility, technical structures continue to define Bitcoin’s broader trend. Cas Abbé outlined a worst-case dip toward $93,000–$94,000. He cited April 2025’s Trump tariffs crash as a comparable scenario. Although this drop has only a 20–25% chance, it remains possible if geopolitical fears intensify.
Source: Case Abbe
Cas’s chart showed Bitcoin respecting an ascending trend channel stretching from late 2024 through mid-2025. Each correction toward the lower channel boundary resulted in renewed buying pressure. Notably, a teal accumulation zone between $93,000–$97,000 a key institutional support region. Multiple retests of this level show deep-pocket buying and long-term positioning.
Bitcoin remains in the mid-range of the channel, suggesting room for upside continuation. The yellow arrow on Cas’s chart points toward upper resistance near $110,000, aligned with the ongoing uptrend.
Wyckoff Structure Signals Final Bullish Phase
Meanwhile, Crypto Fella projected that Bitcoin is entering the final leg of its Wyckoff cycle. Trading at $103,556 on Kraken, the asset shows growing strength through the Last Point of Support (LPS) phase. The Spring formation marked a recent low, which was followed by a strong recovery and a confirmed Test phase.
Source: Crypto Fella
Currently, Bitcoin approaches the “Sign of Strength” (SOS) level and is attempting a breakout across the descending “Creek.” Volume confirms institutional accumulation throughout the phases. The schematic projects a bullish Phase E markup upon breakout. Consequently, the cycle suggests the last major rally of this bull phase could be imminent.
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