Bitcoin Stuck in Neutral: Weekend Slump Looms as Price Action Flatlines

BTC’s price chart looks like a EKG reading from a comatose patient—flatlining between support and resistance with all the volatility of a pension fund’s quarterly report.

Key levels holding... for now. Bulls whisper about accumulation while bears yawn at the lack of momentum. Meanwhile, Wall Street ’experts’ still can’t decide if crypto is dead or just hibernating between halvings.

Pro tip: When the market moves less than a bureaucrat’s productivity metrics, maybe it’s time to touch grass until Monday.

Key technical points

• Range High Resistance: $105,000
• Range Low Support: $100,700
• Market Structure: Pennant-like equilibrium formation showing compression of price

Over the past eight days, Bitcoin has consolidated between resistance at $105,000 and support at $100,700. These levels have defined a structured trading channel, keeping price tightly bound. Intraday action shows a developing equilibrium or pennant formation, marked by decreasing volatility and narrowing price movement.

This market compression signals indecision and balance between buyers and sellers. Historically, such setups often precede sharp breakouts. As price coils toward the apex of the pennant, momentum is likely to build for a decisive move. Any breakout will need confirmation from increased volume and a strong close outside the established range.

Another factor to monitor is the declining volume across major exchanges. This reduction reinforces the idea that market participants are waiting for a clear directional move.

\Historically, low-volume consolidations near key levels often precede volatility spikes. An upside breakout WOULD likely require a sudden influx of buy-side volume to overcome resistance. Conversely, a downside move without strong volume may result in a fakeout, quickly snapping back into the range.

Until then, bitcoin is likely to continue oscillating between support and resistance, offering opportunities for short-term range traders while larger moves remain on hold.

What to expect in the coming price action

If current compression persists, a breakout is likely within the next three to five days. Weekend trading may stay muted, but early next week could bring the volatility needed to break the range. Unless price closes above $105,000 or below $100,700 with volume confirmation, the range is expected to remain intact. Traders should remain patient and alert for signals of directional intent as price nears the apex.