Here goes my quick opinion. About BTC today.
After the consolidation of the last few days, Bitcoin is at an interesting point. I see that we are forming a solid base around $105,000, a level that seems to be attracting some demand. The selling pressure is not overwhelming, which is a good sign.
What's my intuition for today?
I think we could see Bitcoin trying to test the upper range of its recent range. That is, looking for $106,000 - $106,500 again. If the volume supports it and we see a clean breakout above those levels, we could have a small "pump" towards $107,000 - $108,000.
Points to consider (and why I am cautious):
* Volume: The volume has been a bit weak. We need to see a significant increase if we want a sustainable breakout. Without it, any upward movement could be fleeting.
* Clear Resistance: $106,000-$106,500 has been a wall in the past. The "bears" (sellers) are waiting there to defend that level.
* Macro news: Always be on the lookout. Any important economic data today or some unexpected headline can change the landscape in an instant.
In summary: today I lean towards thinking that Bitcoin could look for the high side of its current range. But if there is no volume, or if the selling pressure at resistance intensifies, we could revert back to trading within the same range or even seek a test of lower supports around $104,500 - $104,000.
My personal strategy for a day like today: Observe and react. I wouldn't jump in blindly. I would look for confirmation in the volume if we see a breakout or a rejection.
Have an excellent trading day!$BTC
