While FIFA Coin tumbles due to confusion around an official NFT initiative, Bitcoin’s price remains tightly range-bound. BTC is currently stuck between $100,700 and $105,000, and traders are watching for a breakout.
Bitcoin has been moving sideways for over a week, forming a classic pennant pattern. This technical setup indicates shrinking volatility and a potential breakout ahead.
On the 1-hour chart, BTC/USD shows a narrowing range with declining volatility. This compression suggests a major move could be on the horizon.
Historically, such setups often lead to sharp price swings, either upward or downward. The current formation is a textbook example of price coiling at equilibrium.
Volume has been decreasing across major crypto exchanges, which typically indicates that traders are waiting for a breakout. Watch for volume spikes as confirmation of a real move.
If you’re currently trading Bitcoin, the best approach is patience. The price is approaching the apex of the pennant, and a clear breakout could occur within 3–5 days.
Until BTC breaks out of the $100.7K–$105K zone with volume confirmation, expect continued sideways price action. Short-term traders can still capitalize on range-bound opportunities.
Weekend trading may stay slow, but early next week could bring the volatility needed to push BTC out of its narrow channel. Keep alerts on and watch for key breakout signals.
Bitcoin’s current technical setup shows a high probability of an imminent breakout. Whether it’s bullish or bearish will depend on volume and price action at the resistance and support levels.
Stay alert, stay patient—and trade with discipline. The next big Bitcoin move could be just days away.
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