Bitcoin Consolidates Near $106K Resistance After 0.3% Gain

Bitcoin is currently trading within a tight range, consolidating between $104,412 support and $106,032 resistance. This price action follows a recent liquidity sweep near $102,726, where buyers stepped in to defend support and push the price higher. The rebound has brought Bitcoin back to a familiar resistance zone at $106K, which has previously acted as a strong barrier to upward movement.

The technical indicators suggest that Bitcoin is trapped within a short-term range, with the 21-day moving average aligning closely with the $106,032 resistance level. Just above this level lies a more critical zone between $107,200 and $108,900, marked as a bearish order block. This area has been a significant hurdle for bulls, as it was the scene of sharp rejection during the last major attempt at a breakout.

A breakout above the $108,9K zone could signal a potential push toward new all-time highs, according to market observers. However, a further rejection at or below the bearish order block may exert more selling pressure, possibly retesting the $102K liquidity area or even dipping below the $100K psychological level. The market is currently undecided, with buyers trying to reassert control against sellers protecting crucial resistance points.

Although the recent rebound shows that buyers are not entirely absent, analysts note that volume remains comparatively low and directional conviction lacks. A decisive move—either above resistance or beneath support—will likely determine the next trend. The $104,412 support level and the $106,032 resistance level are important reference points for market participants as they await a clear signal from the market.

The next sessions are going to be decisive. As the market appears to be waiting, the next major trend in Bitcoin could determine not just its immediate future, but it could also reflect on wider appetite within the cryptocurrency ecosystem. The recent price behavior of Bitcoin has seen the asset reach its tipping point, as traders eagerly await the post-resistance snap back or a sell-off to earlier levels. Bitcoin is currently trading at 105,394, 0.3% up in the past 24 hours. Despite the slight gain, the wider market remains indecisive, with price action trading in a tight range between $104,412 and $106,032.