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Bitcoin Price Analysis: BTC Consolidation Persists, Here’s What Could Trigger a Breakout.
$BTC continues to trade within a tight range, showing subdued market activity and low volatility. The asset remains locked between the $116K and $123K levels, reflecting a temporary equilibrium between buyers and sellers. This sideways movement signals market indecision ahead of a major macro catalyst.
The $114K level, which aligns with the lower boundary of Bitcoin’s multi-month ascending channel, serves as a crucial support. As long as this trendline holds, the bullish structure remains intact, and a retest of the $123K resistance is anticipated. However, if this level is breached, a deeper correction toward the $111K support zone becomes the more likely scenario.
#Write2Earn
$BTC continues to trade within a tight range, showing subdued market activity and low volatility. The asset remains locked between the $116K and $123K levels, reflecting a temporary equilibrium between buyers and sellers. This sideways movement signals market indecision ahead of a major macro catalyst.
The $114K level, which aligns with the lower boundary of Bitcoin’s multi-month ascending channel, serves as a crucial support. As long as this trendline holds, the bullish structure remains intact, and a retest of the $123K resistance is anticipated. However, if this level is breached, a deeper correction toward the $111K support zone becomes the more likely scenario.
#Write2Earn
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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