1️⃣ Market Structure and Key Price Levels
Multi-day Consolidation Pattern: Currently, BTC is consolidating in the range of approximately $100,000–$110,000.
Support Levels:
First Support: ~$103,500, which is a region where short-term buying has previously intervened.
Next Key Support: The psychological level of $100,000, and the range of $102,000–$102,500.
Resistance Levels:
Medium to Short-term resistance is around $105,000–$106,000; if the daily line breaks through, it may surge towards $110,000.
If it breaks through $110,000–$112,000, this wave may extend to ~$130,000–$135,000.
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2️⃣ Moving Averages and Consolidation Patterns
Moving Average Cross:
The daily 50-day moving average has formed a 'Golden Cross' bullish arrangement.
Short-term moving averages like the 50-day vs. the 200-day have not yet formed a 'Death Cross,' but continuous observation is needed.
Consolidation Pattern:
Both the daily and weekly charts are showing a 'Bull Flag' consolidation, with bullish prospects continuing.
Swing traders should pay attention to the breakout point of the upper flagpole, which is around $109,000.
