Bitcoin is currently consolidating inside a descending channel, with the Ichimoku Cloud acting as resistance near the top of the structure.
At the moment, BTC is getting squeezed between the descending channel resistance and the lower support area. This tight price action suggests that a strong move could happen soon.
If Bitcoin breaks above the channel and clears the Ichimoku resistance, it would confirm bullish momentum and may push the price higher toward the $118,000–$120,000 zone.
However, if price stays within the channel, consolidation may continue, and a breakdown from the lower boundary could send BTC toward $112,000–$113,000 levels.
