BTC trades above $106K within an ascending triangle; breakout expected above $106.1K or below $104.8K.
Exchange inflows hit cycle lows as retail and whales show strong holding behavior amid uncertainty.
Institutional demand grows with ETF inflows and Metaplanet’s BTC buy; $110K weekly close is crucial.
Bitcoin is trading at $106,630.03 and remains within a defined ascending triangle pattern on the 4-hour chart. A close above $106,100 or below $104,800 will likely set the direction for the next breakout. Traders are watching closely for a move outside this narrow range.
Price Consolidation Ahead of Key Breakout Levels
The ascending triangle structure, observed by Ali Charts, is often seen in continuation patterns during uptrends. The price has ranged tightly between $104,800 and $106,100, indicating reduced volatility before a larger move. A breakout in either direction may determine Bitcoin’s short-term path.
https://twitter.com/ali_charts/status/1934248537644024192
As of Monday, BTC is holding above $106,000 after rebounding from last week’s low at $102,664. The recent recovery followed heightened geopolitical tension, which briefly pushed prices lower. Despite global uncertainties, BTC has maintained its structure within the triangle.
CryptoQuant noted that both retail and whale BTC inflows into Binance are at cycle lows, showing a preference to hold. “This pattern indicates a strong preference for holding rather than selling,” contributor Darkfost stated. Reduced exchange inflows may signal traders are waiting for clear technical signals.
Institutional Activity and Macro Events Influence Market Behavior
Institutional demand remains steady. Japanese firm Metaplanet added 1,112 BTC, bringing its holdings to 10,000 BTC. Spot Bitcoin ETFs in the U.S. also recorded inflows of $1.37 billion last week, according to Coinglass data. These signs point to sustained interest despite ongoing market caution.
Cas Abbe stated that Bitcoin is “just one strong candle away from entering price discovery mode.” He mentioned that a weekly close above $110,000 could trigger a rapid move. Historical factors like ETF listings and political outcomes have previously pushed Bitcoin to new highs.
With the Federal Reserve’s interest rate meeting approaching and Middle East tensions ongoing, the market remains on alert. Price action above or below triangle levels may determine Bitcoin’s next major move.
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