$BTC is trading around $103,000 - $106,000 USD. After recently testing its all-time high near $109,000 in January 2025, BTC has experienced some volatility and is currently consolidating within this range. Technical analysis on various timeframes presents a mixed but cautiously optimistic outlook. The daily chart shows

Bitcoin remaining above key moving averages, suggesting underlying bullish strength, although the failure to decisively break the $108,000 resistance indicates some profit-taking and a balance between buyers and sellers. Short-term charts reveal trading within an ascending channel, with support around the $100,000 level potentially acting as a springboard for another attempt at the all-time high.

The Relative Strength Index (RSI) is hovering in neutral to slightly overbought territory, suggesting that while momentum is positive, a period of consolidation or a minor pullback wouldn't be unexpected. On-chain data indicates continued accumulation by long-term holders, which is generally considered a bullish sign.

Market sentiment remains largely positive, fueled by increasing institutional adoption and the narrative of Bitcoin as a store of value and a hedge against traditional market uncertainties.

Analysts are eyeing the $109,000 resistance as a crucial level; a decisive break above it could pave the way for further significant upside, potentially towards $120,000 - $130,000 in the mid-term, while failure to breach it could lead to a deeper retracement towards the $98,000 - $100,000 support zone.

Investors should monitor volume and order book activity around these key levels for confirmation of the next directional move.

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