๐ Technical Analysis of Bitcoin (BTC):
๐น Bitcoin is currently moving sideways in a narrow range between $103,100 and $104,300.
โ This movement comes after a strong breakout of a broadening wedge pattern on the four-hour timeframe, indicating a consolidation phase before the next significant move.
๐ข Bullish Scenario:
๐น If the price breaks above $104,300 and holds,
๐ we may see a continuation towards the strong resistance between $107,800 โ $108,500
๐ธ which is a historical supply area worth monitoring closely.
๐ป Bearish Scenario:
๐น If the price fails and breaks below $103,100,
it may retreat towards the previous breakout area between $99,400 โ $97,800,
๐ธ which is a strong support area that has turned from resistance on both the four-hour and daily timeframes.
โ๏ธ The current situation is neutral, so waiting for a clear breakout in either direction may provide more accurate and safer opportunities.