Bitcoin is consolidating within a tightening descending triangle formation, bordered by resistance near $109,553 and support at $100,746. This technical pattern signals an impending volatility expansion that could significantly influence Bitcoin’s price trajectory in the near term.
Recent trading dynamics reveal intense battles between bullish and bearish forces, evidenced by repeated rejections near the $108,000 level alongside multiple liquidity sweeps below support that quickly recovered. These movements underscore the continual tension within this narrowing price range as volume patterns align with the technical expectation of an imminent breakout.
The market is closely watching the triangle’s apex approach, with expected outcomes hinging on critical thresholds. A decisive close above the $109,500 resistance would suggest bullish continuation, while a breakdown beneath $100,700 support could trigger bearish extension. Traders are actively monitoring the contracting price range and volume trends for confirmed directional signals amid the pattern’s resolution.