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<\/p>\nAfter a powerful rally earlier this month, Bitcoin\u2019s price action has stalled just above $103,000 and has been caught in a tight consolidation range for over the past week. The daily chart shows consistent resistance just above $107,000, with the latest candles forming in a compressed horizontal band, indicating indecision and low momentum. <\/p>\n
This price behavior could be seen as a pause before the next leg higher. However, it could also be a trap that could cause a reversal towards $98,000.<\/p>\n
Bitcoin’s current consolidation around the $103,000 price level has dragged on for over a week, and an eventual breakout could happen into any direction. In a recent post on social media platform X, crypto analyst Ali Martinezfor a bullish Bitcoin.\u00a0<\/p>\n
His chart illustrates that price has approached this threshold multiple times since December 2024 but failed to sustain a close on the daily timeframe. This, in turn, has led to the formation of a horizontal barrier just beneath $108,000. Notably, even Bitcoin’s all-time high of $108,786 on January 20 failed to close above the $107,000 price level on that day.<\/p>\n
According to Martinez, a confirmed close above this level could open the door for further upside movement toward new all-time highs. However, until this threshold is decisively cleared, Martinez warns that traders should be cautious and avoid forcing positions.<\/p>\n
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Image <\/i>From X: @ali_charts<\/i><\/a><\/p>\n A separate technical breakdown by crypto analyst TehThomas, published on TradingView, presents a far more cautious outlook for Bitcoin<\/a>. Similarly, the analyst noted that Bitcoin has spent more than eight days locked in a narrow range between roughly $100,000 and $105,800. <\/p>\n According to his liquidity-based framework, this range is likely being used as a trap to invite both long and short traders into premature breakout trades. His 4-hour candlestick timeframe chart shows a clear consolidation block, with price failing to escape either end, and liquidity pooling above $105,800 as well as under $100,000.<\/p>\n TehThomas believes the equal highs near $105,800 are acting as bait for breakout longs. He expects Bitcoin to briefly sweep these highs, only to cause a fast and decisive move downwards into the lower demand zone between $98,000 and $97,500. <\/p>\n This zone, marked as a large unmitigated fair value gap and golden pocket level on his chart, is where he expects the price to react next, once the liquidity on both sides is taken.<\/p>\n Image <\/i>From TradingView: TehThomas<\/i><\/a><\/p>\nPotential Bitcoin Trap Setup And Liquidity Sweep To $98K<\/b><\/h2>\n
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