Bitcoin remains in a tight consolidation phase, holding firmly above $103K on the 4-hour chart. Over the past four days, every 4H candle has closed above this level, confirming it as key support.
On the upside, price faced another rejection near $106K, reinforcing $106.3K (Weekly Open) as significant 4H resistance. This level continues to cap any bullish momentum.
Currently, the market is ranging between $102K - $107.1K (Monday’s range), and with prolonged sideways movement, a larger breakout is becoming increasingly likely.
Outlook:
A decisive break above $106.3K may trigger a run toward the ATH.
A failure to hold $103K could open the door for a retest of sub-$100K levels.
At this stage, the direction of the next major move remains uncertain — caution and patience are advised.
If you've been keeping up with my recent posts, you probably noticed Bitcoin got pushed back right at the Weekly Open of $104K this morning. This level has been tough to crack for the last four days. On the flip side, $103K is holding up as solid support on the 4-hour chart, so we're stuck in a really tight range- less than 1%-heading into the weekly close and US futures open.
With the US credit rating downgrade last Friday, expect some bumps and shakes in the market over the next day. For now, I'm watching $103K and $104K closely-breaking either way should give us a clue about what's next for $BTC .