Bitcoin Consolidation Near Support, Awaiting Breakout Signal

The current price of Bitcoin is $108,008 USD, with a 24-hour change of +0.27% and a trading volume of approximately $43.45 billion USD. Bitcoin is trading within a tight range from $107,160 to $109,401 USD. The volume is low, and the simple moving averages (MA 5 and MA 10) are flat, indicating the market is in an accumulation phase and waiting for a new signal. In the short-term trading strategy: - For a long position: - Entry range: $107,300 – $107,700 USD - Take profit: $109,500 USD - Stop loss: $106,800 USD - Probability: ~65% - Rationale: Strong support zone, price is accumulating, and could recover if the market maintains its overall momentum. - For a short position: - Entry range: $109,600 – $110,000 USD - Take profit: $108,000 USD - Stop loss: $110,800 USD - Probability: ~55% - Rationale: Resistance levels have not been broken yet, and there is potential for technical selling pressure. Overall, Bitcoin seems to be consolidating with a cautious outlook, awaiting a decisive move above resistance or below support to trigger a trend.