The cryptom markets are currently still, because most tokens, including Bitcoin, consolidate within a narrow range. After the latest Upswing, the constant slow behavior can be seen as an accumulation of bullish power, which could then cause a strong revival. Consolidation usually breaks as soon as the BTC price breaks above the local resistance that caused a rejection in the near past.
The range of $ 105,800 has activated a withdrawal in recent days. Does this suggest that breaking these levels can push the price directly to a new ATH, or can another consolidation follow just below the highlights?
Many things have been developed in recent years, especially after including institutions in the crypto room. Some data suggest a low interest rate and trading activity of the retail traders, while the institutions have taken over the cryptomarket. Large companies such as Strategy and BlackRock have more than 500K BTC with them, which can hardly influence the BTC price rally. In the meantime, the prize seems to have found the local resistance to $ 105,000 and to break this, millions of shorts can liquidate.
Almost $ 100 million in shorts is collected between $ 104,700 and $ 104,900, according to data from Coinglass. Shorts have started to stack almost $ 105,000, and the breaking of these levels is extremely crucial for the Bitcoin price rally. On the contrary, some of the locks are also collected below $ 102,500 and that is why breaking these levels can push the price lower while it is retained above the psychological barrier of $ 100k.
Given the current trade setup, the BTC price consolidates within a range and constantly tries to break the reach. The short -termberpip flag has been pulled up, making a bearish movement very clear. However, the indicators have not completely switched to Beerarish and the bulls have prevented it every time. That is why the coming weekend can have an enormous impact, because an increase above $ 104,000 can easily increase levels above $ 105,000, while failure could cause a bearish action, almost $ 100,000.