Bitcoin Stuck at $108,000 Resistance: The Market Seeks a Clear Direction

Bitcoin struggles to break the strong resistance line at $108,000, displaying a hesitant outlook between bullish optimism and cautious bearishness. Last week, following a failed breakout towards the $100,000 level, distinct wicks appeared at both ends on the weekly candlestick chart. This indicates the power struggle between buyers and sellers and the ongoing consolidation process.

Cryptocurrency analyst Daan Crypto Trades states that behind this price squeeze, the conflicting news flow and fluctuating market sentiment are influential. According to him, for Bitcoin to confirm its upward trend, the weekly closing must occur above the $108,000 level.

Technical Indicators: Consolidation Continues in an Uncertain Environment

The price structure currently reflects a classic consolidation zone. Bitcoin continues to fluctuate between $100K and $108K without determining a clear direction. In this range, some traders take profits while others prefer to accumulate positions. According to Daan Crypto Trades, as long as the price does not permanently break above this resistance level, the market will remain neutral.

This table causes investors to limit risk by increasing their stablecoin positions on one hand, while holding moderate BTC assets to not miss a potential upward movement.

News Flow Plays a Determining Role

The uncertainty in the market is particularly influenced by news-driven developments. When positive news is followed shortly by negative developments, sharp fluctuations occur in prices. This turmoil is concretely observed with long wicks seen in weekly charts. Analysts state that regulatory announcements, geopolitical developments, and economic data can be decisive on price movements.

A Strategic Waiting Period for Traders

Under the current market conditions, many traders have resorted to a 'wait and see' strategy. This strategy focuses on preserving capital during periods of high volatility while also staying in the market for potential opportunities. Maintaining moderate BTC positions offers the chance to take quick action in unexpected bullish movements.

The general trend is to act with disciplined risk management and avoid major position changes until a clear breakout occurs. Which direction Bitcoin breaks this uncertainty in the coming days will play a key role in determining short-term investment strategies.

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