#Bitcoin is consolidating near its all-time high. The main | Mags on Binance Square

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#Bitcoin is consolidating near its all-time high.
The main daily resistance is at $106500 once flipped BTC will go vertical.

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#Bitcoin is Dumping – But Why? Is It Over? 🤔 Yesterday, Bitcoin tested the range high for the third time and got rejected again. This area is proving to be strong resistance. Previously, rejection from this same level led to a breakdown below the range. Now, this is the first time BTC is retesting the range high after reclaiming it. A breakout on the first attempt is usually super bullish but rare, which is likely why we saw a rejection here Now, two possible scenarios can play out: 🟢 Scenario 1 (Green): Price consolidates a little and then breaks out aggressively to the upside. 🟠 Scenario 2 (Orange): Price consolidates and breaks down toward the mid-range ($99,400 wicks below possible) for a retest before another leg up. Overall, both scenarios are bullish. Scenario 1 is quick and explosive, while Scenario 2 may take a bit more time to play out since we haven't seen any retest after the range reclaim.

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