Bitcoin is trading within a descending triangle pattern, currently rebounding from a key horizontal demand zone.
The 100-day moving average provides dynamic support just beneath the consolidation range near $101,269.
Price remains range-bound between $101,269 and $103,982, with compression tightening as resistance and support converge.
Bitcoin is currently attempting a rebound from a key horizontal demand zone, following a recent price contraction. The digital asset is priced at $102,609 after a 1.1% decline, placing it just above a critical structural base. The 24-hour range remains confined between $101,269 and $103,982. This tight price channel aligns with the lower boundary of a descending triangle visible on the daily chart.
The chart also reveals dynamic support from the 100-day moving average positioned beneath this accumulation area. Recent trading behavior suggests price is interacting with multiple technical thresholds simultaneously.
Price Holds Within Descending Triangle as Volatility Compresses
The chart shows Bitcoin moving along the base of a descending triangle, with lower highs defining the upper trendline. However, the horizontal structure at the base has repeatedly prevented deeper price breakdowns. The shaded zone reflects concentrated buying interest, and Bitcoin has rebounded multiple times from this region since early May. Notably, the asset currently hovers just above this level.
Each failed attempt to breach this support reinforces its relevance. Yet, the sloping resistance continues to limit bullish momentum. Therefore, current price movement remains squeezed between both structural barriers. With this setup, the chart suggests compression is increasing.
100-Day Moving Average Acts as Immediate Technical Support
Beneath the triangle base lies the 100-day moving average, rising steadily since early May. This moving average currently offers dynamic support just under the consolidation area. Price has interacted with this band multiple times, without a sustained break below it. As price tests the triangle’s floor again, the moving average supports bullish efforts to defend the zone.
https://twitter.com/TheCryptoExpres/status/1936678355778060656
Notably, both trendline resistance and moving average support are narrowing in proximity. This creates pressure for prices to resolve the consolidation soon. However, no confirmed breakout or breakdown has yet occurred, keeping the range intact.
Directional Bias Hinges on Pattern Resolution
As of now, Bitcoin trades near $102,846, holding slightly above key support levels. Daily candles show repeated rejection at the upper resistance line. Meanwhile, the lower demand region continues to anchor price. With the 24-hour range pinned between $101,269 and $103,982, a decisive move is required to confirm the next trend. Until that occurs, price remains inside the triangle, suspended between narrowing technical boundaries.
