$BTC Bitcoin has rebounded sharply from the $102,000 zone, gaining over 3% in just two sessions following a bounce from the 100-day exponential moving average and a key horizontal support near $101,000. This recovery signals strong buying interest at lower levels. However, price action is now stalling near a crucial resistance zone between $105,800 and $106,900—an area aligned with the upper Bollinger Band and prior rejection points seen in late May. On the four-hour chart, Bitcoin is consolidating within a short-term symmetrical triangle pattern, indicating a tightening range and declining volatility. This setup often acts as a precursor to a breakout or breakdown, depending on which side the price exits. Traders are closely watching for confirmation of direction, as a breakout above resistance could signal continuation toward new highs, while failure to breach could lead to a pullback. Momentum indicators suggest caution as the market awaits a decisive move.
