$BTC Bitcoin is currently trapped in a sideways to slightly downward movement, oscillating just above $103,700. The 6-hour chart shows that the price action is compressing below the key moving averages: the 25 MA at $105,119 and the 99 MA at $105,769. The rejection near $106,172 followed by lower highs suggests that sellers still have control in the short term, but bulls are defending the $102,000–$103,000 zone well, hinting that a base is forming.

Despite the slight downward pressure, the broader structure still reflects a larger consolidation range between $100,372 and $106,568. An attempt at a bullish recovery is visible with a recent increase in volume, leading to a quick move above $104,000 before the current correction. Momentum indicators (not shown but implied by the structure and pace of volume) suggest a possible shift, as long as BTC can reclaim the 25 MA strongly.