Bitcoin in Mid-Term Uptrend, But Consolidating in Short-Term Ran📊 Bitcoin in Mid-Term Uptrend, But Consolidating in Short-Term Range
Bitcoin remains in a mid- and long-term uptrend, clearly shown by the white trendline on the chart. However, in the short-term, the price is consolidating inside a sideways range (highlighted in red).
If price bounces from current levels and starts pushing upward, it would confirm a higher low above the range support at $101,429, which increases the probability of an upside breakout. Otherwise, we could see another test of the range bottom.
The levels at $103,884 (support) and $106,258 (resistance) are not particularly strong, but can still be used for aggressive pre-breakout trades. Personally, I won’t enter trades at these levels just yet — I’d like to see more interaction and confirmation.
⚠️ Note:
Breakouts from this range are likely to be sharp and impulsive, regardless of direction.
For short setups, you could either wait for a breakdown of $103,884, or use a sell-stop below $101,429 — but I’m not taking shorts, as the overall trend remains bullish on higher timeframes.
On the long side, I won’t enter on a break of $106,258 unless we see a fakeout below $103,884, which would increase the probability of a successful long breakout.
