Bitcoin: The Dashing Dance Between $100K and $110K 💃🕺

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Ah, Bitcoin, that charming little rascal, continues to waltz in a rather tedious consolidation range, having failed to pirouette above the illustrious $110K resistance. The broader market, bless its heart, remains as uncertain as a cat in a room full of rocking chairs, with spot and derivatives data suggesting a delightful mix of sentiments. 🎭

As we approach the weekly close, our dear price action finds itself squeezed tighter than a pair of Spanx at a summer soirée, caught between dynamic supports and a rather persistent supply zone. This phase, my dear friends, could very well precede a significant breakout or a dramatic breakdown, depending on how liquidity behaves in the coming sessions. 🎩

By ShayanMarkets, the ever-optimistic oracle of our times.

The Daily Chart

On the daily timeframe, BTC has decided to form a triangle pattern, with almost equal lows near $100,000 and lower highs that scream sustained selling pressure. The key trendline support from March remains intact, keeping our price snugly inside the larger ascending channel, like a well-tailored suit. 👔

Currently, the asset is attempting to stabilize near $106K, with the RSI hovering around 51, a neutral level that indicates a balanced momentum—how positively pedestrian! If our buyers fail to push above the descending resistance and the $110K supply zone, we may find ourselves targeting the downside liquidity below $100K. Oh, the drama! 🎭

The 100 and 200-day moving averages are rising and converging for a bullish crossover, indicating that the long-term bullish structure remains intact. However, the fact that BTC has been rejected multiple times from the $110K area makes that zone a critical decision point. A daily close above it would shift the structure bullish again, while a breakdown below the orange trendline support may accelerate a move toward the lower boundary of the large channel. Quite the cliffhanger, wouldn’t you say? 📉

The 4-Hour Chart

In the 4H chart, BTC has rebounded from a local low of $103K, leaving a significant pool of liquidity behind—like a forgotten cocktail at a party. The price is now pushing back into a fair value gap (FVG) in the $106K zone, which is now acting as a supply barrier. Moreover, the RSI is trending higher at 55, showing mild bullish momentum, but the bearish trendline overhead still caps any impulsive move. How terribly frustrating! 🍸

A breakout above the FVG with strong volume could open the path to retest $110K. Otherwise, if sellers defend this area again, we may see a sweep below $103K, aiming for the $102K and even $100K liquidation zones. The short-term structure leans slightly bullish, but the market remains range-bound between liquidity pools. A veritable soap opera! 📺

Spot Sentiment Analysis

Spot Taker CVD

The Spot Taker CVD chart over the 90-day view shows a return to aggressive buying dominance (green), following a long period of neutral and sell pressure. This shift indicates that market buyers are stepping back in with confidence, absorbing sell orders at current prices. Historically, when CVD flips green after extended red or grey phases, it precedes upward continuation. How positively thrilling! 🎉

This renewed spot demand suggests that large buyers are positioning themselves during this range phase. If this behavior continues while the price holds above key supports, it could lead to a strong breakout. However, if the CVD starts to flatten or turn red again without price advancing, it may indicate exhaustion and foreshadow another sweep of downside liquidity or even a full-blown bearish reversal. Oh, the suspense! 🎭

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2025-06-20 17:13