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Bitcoin Consolidates Between $102K and $96K: Traders Eye the $91K Fibonacci Target
The price of Bitcoin has been consolidating within a narrow range between $102,000 and $96,000, leaving traders uncertain about the next direction. The asset was recently rejected at $108,355, prompting a pullback to the $102,000 support zone.
According to AlphaBTC’s analysis, the chart reveals that the price action has been characterized by a rejection of a bearish order block at $108,355, resulting in a retracement to the $102,000 area. This level is currently acting as a potential reversal point for the asset.
Additionally, volume accumulation can be observed between $96,000 and $97,000, which serves as significant mid-level support.
Source: cryptonewsland.com
