Bitcoin Technical Analysis Today as Bitcoin Feels “Stuck” Despite a Bullish Backdrop

Overview of Bitcoin's Situation

Bitcoin has recently reclaimed important value areas and is currently entering a critical consolidation phase. While traditional charts suggest market strength, order flow analysis indicates the market is digesting gains. Over the last few months, Bitcoin has seen approximately a 20% increase, breaking several key levels recently.

Key Support and Resistance

On higher time frames, Bitcoin maintains a constructive structure. Key levels include: - Bullish Continuation Zone: 95,780-95,800. Holding above this area could indicate willingness to transact at higher prices. - Near-term Balance and Support: 95,500-95,520. Maintaining above this zone is crucial for a constructive structure. - First Downside Reaction Area: 94,580. Observing how price reacts at this level will be important. - Structural Risk Threshold: 93,920. Sustained acceptance below this level would weaken bullish structure.

Short-term Outlook and Strategy

In the short term, the focus is on whether the momentum can be maintained. With strong expectations towards the 100,000 target, holding above 95,800 is critical for this structure. Observing reactions as prices approach these key levels will be vital. Professional traders wait for price interaction with important levels before making moves, highlighting the importance of cautious decision-making in the context of current market conditions.