Bitcoin Analysis (Daily Time Frame)
Bitcoin remains range-bound. Despite breaking and consolidating above its previous high at $102,700 and even forming a new high at $109,680, it has not yet managed to break out of its range or time correction to move towards new highs.
- Primary Scenario: Bitcoin is expected to consolidate for a short period and then potentially break and stabilize above $109,680, paving the way for higher prices in the coming weeks.
- Alternative Scenario: If Bitcoin consolidates below its previous high range between $102,710 and $101,270, it might drop further toward the $89,280 zone.
Bitcoin Analysis (4-Hour Time Frame)
- Primary Scenario: If Bitcoin consolidates above its recent high at $107,230, it will likely have an easier path to break $109,680 and reach higher levels.
- Alternative Scenario: If Bitcoin continues its correction and consolidates below $101,270, it might move further down to the $95,830 level.
Bitcoin Analysis (15-Minute Time Frame)
- Primary Scenario: If Bitcoin breaks and consolidates below the $104,710 support level, it could target the $103,830 and $102,710 levels.
- Alternative Scenario: If Bitcoin closes strongly and consolidates above its recent high at $105,460, it may aim for the $107,230 resistance level.