Bitcoin is currently in a consolidation range between 101,000 and 105,000, having attempted multiple times to break through the 105,000 resistance level but failing to establish a foothold. This position has formed a significant short-term pressure, and if it cannot effectively break through in the short term, the market may turn towards a correction due to the exhaustion of bullish momentum. Especially during weekends when liquidity is lower, price fluctuations can be amplified, and potential downside risks should be monitored.
From a support perspective, 101,000 is the key defensive level in the current range. Once broken, it may further dip to 98,500 or even 97,000. These levels are not only technical supports but also psychological thresholds for the market. If lost, it may trigger a deeper correction. On the other hand, if the price can break through 105,000 with volume and establish a foothold, it may open up new upward space, targeting around 109,000.
Short-term traders should operate cautiously, avoiding chasing prices in the middle of the consolidation range. Medium to long-term investors may consider more solid support levels or breakout signals before making decisions. Weekend market fluctuations may increase, so it is advisable to control positions and wait for the market to confirm the direction before taking further steps.
