Bitcoin Heading to $107.000? Analyst Charts Price Path Amid Consolidation

O Bitcoin (BTC) remains in a wait-and-see mode, oscillating in a correction phase amid a scenario of regulatory uncertainty and macroeconomic pressures. Despite some attempts to break out, the cryptocurrency has failed to gain traction, keeping its price limited to a narrow trading range.

However, a breakout from this consolidation could reignite market optimism again, propelling Bitcoin towards the $107 mark in the coming weeks, according to projections from the analyst known as “RLinda”.

Bitcoin Key Levels: What to Expect?

Bitcoin is currently in a consolidation phase, with its price hovering between $94.800 and $98.400. A breakout of this trading zone could define the cryptocurrency’s next big move. The cryptocurrency expert mentioned political factors that are contributing to the recent price movements in the market.

“Bitcoin is in consolidation or a localized correction due to Trump putting cryptocurrencies on the back burner. No supportive executive order has been issued, except that there is a little noise around the Federal Reserve, but only from the states and that it is in question which assets will fill this fund, confiscated or still politicians will start buying BTC. As for the global economy regarding bitcoin, a lull has been forming lately. Except for SOL and DOGE, for which the SEC has already started accepting applications to launch ETFs.”

Should Bitcoin manage to break above the $98.400 resistance, market sentiment could change dramatically, paving the way for a potential rally to $107.000. “Technically, I am eyeing the local consolidation: 94800 – 98400. A break of the resistance could give the market hope and in that case, Bitcoin could strengthen towards 102 – 107K,” stated .

On the other hand, analyst RLinda warns that Bitcoin could test liquidity at lower levels such as $91.000 and $90.000 before resuming its upward trajectory.

“But based on the overall technical situation, there is a huge liquidity pool in the 91-90K zone and before further growth, the price may test this zone and form a false breakout before the market returns to active buying.”

At the time of publication, the price of Bitcoin was quoted at US$96.255,79, up 0.1% in the last 24 hours.