When Will See the Bitcoin (BTC/USD) Range Break?Chart Analysis:
Bitcoin remains trapped in a broad consolidation range between $91,000 support and $109,000 resistance as price action struggles for direction.
1️⃣ Range-Bound Price Action:
Bitcoin continues to respect the $91,000 - $109,000 range, with multiple failed breakout attempts.
Recent price action suggests indecision, with neither bulls nor bears taking control.
2️⃣ Key Support & Resistance Levels:
Support: $91,000, a critical zone where buyers have stepped in repeatedly.
Resistance: $109,000, where sellers continue to cap upside moves.
3️⃣ Moving Averages Provide Mixed Signals:
50-day SMA (blue): $99,025, acting as a dynamic pivot point.
200-day SMA (red): $78,230, showing a long-term bullish structure.
4️⃣ Momentum Indicators Reflect Neutral Bias:
RSI: 48.67, showing lack of momentum in either direction.
MACD: Weakening, reflecting the ongoing range-bound environment.
What to Watch:
A break above $109,000 could trigger a bullish continuation towards new highs.
A break below $91,000 would put $78,000 as the next key support level.
Until a breakout occurs, range-trading strategies remain in play, with traders watching for reversals at support and resistance.
Bitcoin remains directionless within its range, with traders waiting for a decisive breakout to determine the next major move.
-MW
