summary
- Bitcoin price is trading in a narrow range below the $104,000 resistance after weeks of macro-driven volatility and is hovering around $104,000.
- Decreasing intraday volatility, easing miner selling, and tightening Bollinger Bands and ATR suggest the market is reeling in search of a potential move.
- A break above $107,500-108,000 could push BTC towards $110,000-112,000, supported by ETF inflows, institutional interest, and lows above $104,000.
- Failure to hold between $104,000 and $104,500 could result in pressure from weak ETF demand and new miner sales, triggering a fall to $102,000 and $100,500.
- Overall, the outlook for BTC remains neutral to bullish, with compression below resistance indicating a potential breakout attempt in the near term.
Bitcoin price is hovering around $104,000, edging into a narrow range below the $108,000 resistance.
After weeks of back and forth due to macro factors, BTC appears to be more stable, and traders are debating whether that stability could precede a breakout attempt.
Today’s Bitcoin price information
Bitcoin (BTC) is currently hovering around $105,200, holding its position after continued macro-related volatility. Day-to-day fluctuations are small and it remains within the range of $104,500 to $107,200. Basically, the market is in a bit of a stalemate.
ETF inflows and outflows remain mixed, but are starting to level out and liquidity has improved compared to the previous week. On-chain numbers are also somewhat encouraging, with miners easing selling and exchange outflows increasing slightly, which could mean long-term holders are gaining confidence.
From a chart perspective, Bitcoin is just below short-term resistance, with the Bollinger Bands and ATR tightening suggesting a bigger move could be just around the corner.
Bitcoin price may rise due to ETF inflows
Breaking out of the $107,500 to $108,000 range could trigger Bitcoin to extend toward $110,000 to $112,000. This rally is likely to be supported by stronger ETF inflows, more stable macro signals, or new institutional participation.
At the same time, Bitcoin’s tendency to form lows above $104,000 adds strength to the technical picture, suggesting that the market is quietly preparing for further upside. All signs point to a bullish forecast for Bitcoin price as long as buying interest remains stable and volatility is contained.
BTC downside risk
Of course, there are still some risks that things could go wrong. If Bitcoin fails to defend the $104,000 to $104,500 range, it could fall and test $102,000 or $100,500 next. A slowdown in ETF demand and a resumption of minor selling could increase the likelihood of that move and put pressure on any near-term bullish breakout attempts.
And while Bitcoin’s dominance is growing, it could actually dampen excitement in the rest of the market. BTC may remain strong, but a lack of altcoin participation could limit the size and speed of the follow-through rally.
Bitcoin price prediction based on current levels
According to BTC forecasts, Bitcoin remains in the range of $104,000 to $108,000. A break above the $108,000 resistance could release an upside target of $110,000 to $112,000, while a loss of $104,000 could trigger a fall from $102,000 to $100,500.
At the moment, the outlook for BTC remains neutral to bullish. Volatility is narrowing near resistance, suggesting a bigger move may be on the horizon. The deciding factor will likely be how ETF flows and the macro backdrop develop in the short term.
For now, Bitcoin is at a crossroads. This continued consolidation below the $108,000 resistance could easily turn into a breakout towards new near-term highs. Alternatively, another pullback could occur if key supports break down. In any case, traders will be watching to see how this compression phase resolves in the coming days.
Disclosure: This article does not represent investment advice. The content and materials published on this page are for educational purposes only.