Bitcoin: Consolidate Before a Breakout

Bitcoin’s recent price action suggests it’s navigating a period of consolidation before potentially surging towards new all-time highs. Currently, trading between key supply and demand zones, BTC is hovering near the $106.5K level on the 4-hour chart. The levels act as both support and resistance, indicating short-term price stability. The immediate focus is on a key breakout: If Bitcoin surpasses the upper limit of this range at $106.6K after a successful retest, it could signal the beginning of a bullish phase. Conversely, breaking below the lower level at $101.8K could invalidate bullish momentum and potentially lead to further price drops.