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Cryptopotato

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Bitcoin Price Analysis: Is BTC’s Consolidation Phase Nearing Its End?

  • Bitcoin price continues to consolidate below the $108K resistance range, indicating equilibrium between buyers and sellers.
  • Technical analysis suggests that once the current consolidation phase ends, a renewed bullish surge towards a new all-time high is expected.
  • On the 4-hour chart, BTC is trading within an ascending channel, with a potential rapid rebound towards $109K if the $100K support level holds.
  • On-chain analysis indicates that Bitcoin reclaiming the Realized Price of long-term holders is a bullish signal, with a possible short-term retracement towards $98K before a fresh uptrend.

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