Bitcoin Holds Steady Near $103,546, Key Levels Await Closure

Bitcoin (BTC) has shown minimal price movement since yesterday, with most coins in the green zone at the beginning of the weekend. The hourly chart indicates that BTC's rate is distant from key levels, and with low volume, sharp price movements are unlikely by tomorrow.

On a larger time frame, the focus is on the bar closure in relation to the resistance at $104,159. If the closure is far from this mark, bears may take control, potentially leading to a drop to the $102,000 level. Conversely, from a midterm perspective, if the candle closes near its peak with no long wick, the growth is likely to continue towards the $106,000-$108,000 range. At the time of writing, Bitcoin is trading at $103,546.

Analysts suggest that the current price stability and low volume indicate a period of consolidation for Bitcoin. The resistance at $104,159 is a critical level to watch, as a failure to close near this mark could signal a bearish trend. Conversely, a strong close near the peak could indicate continued bullish momentum.

The midterm outlook remains positive, with potential for growth towards the $106,000-$108,000 range if the current trend continues. However, traders should remain cautious and monitor key levels closely, as sudden price movements are always a possibility in the volatile cryptocurrency market.