Bitcoin Stuck in Narrow Trading Band
Bitcoin’s price has been moving sideways this week. It’s stuck between $100,700 and $104,700. This tight range suggests a breakout is coming soon.
Traders are watching the $100,700 and $104,700 levels closely. These points act as the floor and ceiling of the current price range. Despite several attempts, Bitcoin hasn’t broken out of this zone. This shows the market is undecided.
Key points to note:
- Trading Range: $100,700 to $104,700
- Major Resistance: $104,700 is a strong barrier
- Low Volume: Lack of participation is holding back price movement
The $104,700 level is especially critically important. it’s not just the top of the current range but also aligns with other significant price points. This makes it a tough barrier to break through.
Bitcoin’s volume is also low. Without more buying or selling, it’s hard for the price to move. This is why we’ve seen repeated failed attempts to break out of the range.
For now, traders should expect more of the same. Bitcoin will likely stay in this range until there’s a clear breakout. If it breaks above $104,700 or below $100,700 with strong volume, it could signal a new trend. A successful breakout could push the price towards $107,000–$110,000.
Until then, expect more sideways movement.Traders should be ready for a breakout when it happens.
