The Dance of Bitcoin Between Correction and Bounce

Bitcoin is currently in a corrective phase after reaching its all-time high of $111,968 on May 22, trading now around $104,536. But don't worry - on-chain data suggests exciting possibilities ahead!

Key Points:

Liquidity Magnet A significant liquidation cluster at $109,933 could attract BTC prices towards this level

Bullish sentiment persists despite the pullback, funding rates remain positive (0.005%), indicating that traders are still betting on an upward move

Technical levels to watch

- Support: $103,952 (recently bounced from here)

- Resistance: First $105,000, then $106,307

- Target: $109,000 liquidity zone

Recent 4-hour charts show BTC bouncing between $103,864 and $105,936, confirming this consolidation phase.