Bitcoin Builds Pressure in a Tight Range – Analysts Warn of Breakout Setup

According to trader and on-chain analyst Ali, Bitcoin could retest the $107,500 level before another upward push toward resistance around $115,000. The pattern, visible on lower timeframes, suggests price compression as volatility narrows. “

A retest of $107,500 support could come before another push toward $115,000 resistance,” Ali noted on X (formerly Twitter), sharing a chart that depicts Bitcoin’s tightening range between rising support and flat resistance.

Consolidation Persists Despite Market Optimism

On the daily chart, Bitcoin has been fluctuating between roughly $106,000 and $116,000 for most of the past week, echoing the broader pattern of consolidation that’s dominated since mid-October. The RSI indicator remains neutral at around 46, showing no signs of strong momentum in either direction. Meanwhile, the MACD histogram stays relatively flat, confirming a lack of trend strength as traders await a decisive move.

The price currently trades at about $110,300, with small daily gains of roughly 0.35%. Analysts describe the setup as “constructive but cautious,” suggesting that Bitcoin is coiling for a larger move once the market digests ongoing macro uncertainties.

Institutional Buying Meets Retail Hesitation

Despite muted short-term sentiment, institutional interest continues to rise. Large holders, including funds like BitMine and others, have been accumulating on dips, offsetting reduced retail participation. This shift in ownership, described by macro analyst Jordi Visser as Bitcoin’s “IPO phase,” indicates a slow transfer from early holders to newer, longer-term participants.

Visser compared Bitcoin’s current phase to that of a maturing equity after going public – early investors taking profits while a broader audience begins accumulating. The result, he says, is a frustrating period of sideways price movement that eventually stabilizes the market and sets the stage for sustained growth.

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Key Levels to Watch

Analysts are watching $107,500 as a critical short-term support. A clean break below could trigger a sweep toward $105,000, while a move above $115,000 could open the door for a return to the mid-$120,000 range. However, without renewed momentum, Bitcoin may remain locked in its triangular structure through much of November.

The Crypto Fear & Greed Index continues to flash “fear,” underscoring traders’ growing impatience with the lack of volatility. Yet, metrics such as record-high network hashrates and steady ETF inflows suggest that Bitcoin’s underlying fundamentals remain strong – even if the price action seems lethargic.

For now, market observers expect more consolidation, with short-term corrections likely before any major directional breakout occurs. The next significant move could define Bitcoin’s trajectory heading into year-end – either confirming accumulation near $110,000 as the new base or exposing further weakness below $107,000.

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