Bitcoin continues to consolidate within a defined range, holding above key support zones while attempting to build strength. Momentum remains muted, however, as both buyers and sellers display caution, leaving the market in a waiting phase for fresh order flow.

Technical Analysis

By Shayan

The Daily Chart

On the daily chart, Bitcoin is holding above the decision point (DP) at $107K–$110K, which provided the base for the recent rebound. From here, the asset is targeting the liquidity zone just below the $124K all-time high, where prior supply is expected to resurface.

The broader bullish structure remains intact, supported by the long-term ascending trendline and the 100/200-day moving averages. Yet, muted candles highlight the absence of aggressive demand, suggesting the market is vulnerable to pullbacks if momentum weakens.

A sustained close above $118K–$120K would confirm renewed strength and open the door to an ATH retest, while rejection could send Bitcoin back toward the $110K support zone.

The 4-Hour Chart

On the 4-hour chart, BTC is advancing steadily but is currently testing a supply zone at $115K–$118K, marked by the recent “$$” liquidity cluster. The rebound from the DP base has been sharp, though the price has since compressed into a narrowing range.

Structure shows Bitcoin caught between support at $112K and resistance just below $118K. A decisive breakout from this compression will set the short-term trend: an upside move could fuel a run toward the ATH, while failure here risks a dip back into the decision point base around $110K. The clean reactions around these boundaries reflect a market awaiting fresh catalysts to resolve direction.

On-chain Analysis

By Shayan

The Realized Price of mid-term holders (3–6 month cohort) has historically functioned as a meaningful pivot, acting as both support and resistance at key turning points. This metric reflects the average acquisition cost of coins held by this group, offering insight into broader market sentiment.

The recent rebound from $107K has lifted Bitcoin just above the $114K Realized Price of mid-term holders. This shift places this cohort at breakeven, reducing the likelihood of immediate sell pressure. As a result, the $114K area emerges as a decisive region for the market.

A firm breakout and hold above this level would confirm renewed confidence from mid-term holders, potentially serving as the launchpad for another bullish leg that could propel Bitcoin to new all-time highs. Conversely, failure to hold above $114K risks shifting sentiment back toward caution and opens the path to deeper corrective moves.

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Cryptocurrency charts by TradingView.