BTC has been trading in a tight consolidation range all week, showing little momentum as it tests the $104,700 resistance zone. Despite repeated attempts, price action has failed to break out, largely due to declining volume and strong confluence at the current level.
Key Highlights:
Resistance Level: $104,700 (Value Area High + Daily S/R + Local Range High)
Volume Profile: Weak volume prevents confirmation of breakout
Price Behavior: Multiple candles closing within range without breakout