$BTC The price of Bitcoin has seen a critical rebound from the $102,000 area, recovering by more than 3% in just two sessions. This recovery came after a dynamic support meeting around the 100-day exponential moving average and horizontal demand near $101,000. However, the four-hour chart shows that the price is retreating again near a significant resistance barrier between $105,800 and $106,900, an area that coincides with the upper range of the Bollinger Bands and previous rejection areas from late May.
The latest Bitcoin price update highlights how the asset is consolidating within a short-term symmetrical triangle pattern, with increasing breakout pressure as volatility contracts. This pattern is forming just below the main resistance level and typically precedes a directional movement, either confirming the continuation of the breakout or signaling a short-term correction.