Bitcoin Stalls Near $104K – Key Support at $102.3K Holding, Watch for Next Volatile Move
1. Current Structure
Price: $103,016.20
Recent High: $104,361.30
Recent Low: $102,315.14
Price is currently consolidating in a sideways range after a strong move up from ~$95,784.61 to $104,361.30.
Volume is dropping, indicating reduced momentum or a potential breakout build-up.
2. Price Action Analysis
After a strong uptrend, BTC has entered a distribution phase (sideways chop between ~$102.3K to ~$104.3K).
Buyers seem to be losing momentum near the top of the range.
No higher highs being made since hitting $104,361.30.
3. Short-Term Bias
This is not an ideal time to enter long, since price is not breaking above $104,361 with strength.
A short position could be considered if price starts closing below $102,800 with volume.
However, until a breakout happens, both long and short positions are risky in this chop zone.
4. Suggested Plan
Wait for clear confirmation:
Go long if BTC breaks above $104,400 with strong volume.
Go short if BTC breaks below $102,300 with bearish confirmation.
Otherwise, stay out and avoid chop.
5. Pro Tip
In a tight sideways consolidation after a parabolic move, patience pays more than prediction. Let the market show direction first — the next big move often comes after this kind of pause.
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