Bitcoin is currently trapped within a tight range, holding above crucial support levels while waiting for a catalyst to shift momentum. While both buyers and sellers show hesitation, the market remains in a holding pattern, awaiting fresh direction. Technical Analysis
The daily chart showcases Bitcoin’s resilience around the $107K-$110K decision point, which acted as a base for recent rebounds. This support zone now targets the liquidity zone just below the $124K all-time high, where previous supply is expected to resurface.
The broader bullish structure remains intact, supported by the long-term ascending trendline and 100/200-day moving averages. However, muted candles suggest a lack of aggressive buying pressure, hinting at a market vulnerable to pullbacks if momentum weakens. A sustained close above $118K-$120K would validate renewed strength and open the door for another attempt at breaking the all-time high, while rejection could send Bitcoin back toward the $110K support zone.
The 4-Hour chart reveals a steady advance in price, currently testing a supply zone around $115K-$118K. This rebound from the decision point base has been swift, but the price has since compressed into a narrowing range.
Structure shows Bitcoin caught between support at $112K and resistance just below $118K. A decisive breakout above this pressure zone will establish the short-term trend: an upside move could fuel further gains toward the all-time high, while failure here risks a dip back to the decision point base around $110K.
On-chain analysis by Shayan provides insights into mid-term holder sentiment. The recent rebound has lifted Bitcoin just above the $114K Realized Price of mid-term holders, placing them at breakeven and reducing immediate sell pressure.
A firm breakout above $114K signals renewed confidence from this cohort, potentially serving as a catalyst for a further bullish leg. On the other hand, failure to hold above this level risks shifting sentiment back toward caution and could trigger deeper corrective movements.