Bitcoin Tests $103K Range Low, Liquidity Grab May Trigger Reversal
Bitcoin has slipped back into its $103,000–$104,000 trading range after failing to sustain momentum above $106,000. The decline to range lows has renewed concerns among traders facing heightened macroeconomic uncertainty—rising US Treasury yields, persistent inflation, and geopolitical tensions in the Middle East. Technical analysis shows significant liquidity building below current levels, which could fuel a swift sweep and reversal if absorbed quickly. However, failure to hold the $103K–$104K zone risks a deeper correction toward $100,000. Key resistance remains near $109,300, where multiple rejections have occurred. Moving averages on shorter timeframes also signal growing bearish pressure. Traders will watch whether bulls can reclaim the 100-period SMA around $105,870; if not, consolidation or further downside may persist through the month.
Neutral
The article highlights Bitcoin’s current range-bound setup between $103K and $109K, with potential for both a liquidity-fueled reversal and a deeper correction. Similar past instances—where BTC briefly dipped to capture liquidity before rebounding—suggest a possible short-term bounce. However, prevailing macro headwinds and failed breakouts near resistance point to continued consolidation. This balanced outlook implies limited directional bias in the near term, making the impact neutral for traders looking at both scenarios.