BTC Consolidates Near Key Levels, Eyeing Potential Breakout Move

• Bitcoin remains range-bound between $92K-$95K support and $110K-$112K resistance, with traders anticipating a breakout in the coming weeks.
• Technical indicators, e.g. MACD and RSI, are in a state of market indecision with a bear break or bull break.
• Crypto analyst Doctor Profit emphasizes Bitcoin’s historical sideways movement before major breakouts, predicting a rally toward $130K-$140K soon.

Bitcoin (BTC) remains in a distinct band, above major support points but with a ceiling at the top points. The market remains consolidated, expecting a definite move with BTC valued at $96,455.35 at the time of writing.

Sideways Trading and Key Support Levels

Bitcoin has been oscillating in a trade in the range of $92,000-$95,000 and $110,000-$112,000, and a firmly rooted trade level. The lower level has been a major support level, stopping declines continuously. If the level is preserved, BTC is set to gain strength in order to move in a higher direction. But a break in the level would witness a decline in the range of $85,000-$88,000.

Prominent crypto analyst Doctor Profit tweeted on this expectation, referencing we trade laterally a while longer before a sudden break. The break is going to happen on this cycle also. After following the typical structure in other cycles based on the past, BTC has previously experienced a consolidation and a break structure and could position itself for a major move above $110,000.

Technical Indicators Suggest Market Indecision

Bitcoin’s price is respecting a bull-supportive rising trendline on multiple occasions. The daily MACD indicator remains in bear grounds with the MACD line at 30.48, suggesting bear pressure has been dominant. But a potential curl in the MACD line would signal a potential turn.

The neutral market stance arises from an RSI reading of 45.56. When RSI exceeds 50 it shows that the bullish trend might become stronger. Traders observe BTC’s ability to maintain support along its trendline while trying to reach resistance between $110,000 and $112,000..

Market Outlook and Potential Breakout

Bitcoin’s trading is suggesting a break above $110,000, and a move upward in the direction of $130,000-$140,000, or a break down below $92,000, and a move down in the direction of lower supports. The crypto remains in a consolidation phase with investors waiting in anticipation of a directional move in the next weeks.