Bitcoin price remains range bound between resistance at $126,000 and support at $98,000, with weak momentum suggesting further liquidity correction.
summary
- BTC is consolidating between the $126,000 resistance and $98,000 support.
- Weak midrange and low volume suggest a bearish trend.
- The $98,000 liquidity zone can trigger a rebound within the established range.
Bitcoin (BTC) price continues to move within a clear range as downward pressure increases.
The market remains trapped between the high timeframe resistance at $126,000 and the support at $98,000, forming a broad rotational structure that could keep prices volatile for an extended period of time before breaking out.
The current position near the midrange zone highlights weakening bullish conviction as attempts to regain lost levels have seen weak momentum and limited follow-through.
Important technical points for Bitcoin price:
- Range formation: BTC trades between $126,000 resistance and $98,000 support.
- Weak mid-range momentum: Price playback lacks strength and volume confirmation.
- Liquidity pool: The $98,000 region holds significant liquidity that is likely to attract prices.
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BTCUSDT (1D) chart, source: TradingView
From a technical perspective, Bitcoin's price structure maintains a rotation, with internal fluctuations between large resistance and support zones defining the broader trading environment. Currently, the midrange zone is acting as a balance point, with neither buyers nor sellers maintaining a clear advantage.
However, there is clear weakness in price trends in the region. Any attempts to regain resistance have been unintentional and unsupported by volume, suggesting market participants are hesitant to actively re-enter. As a result, the likelihood of a gradual decline towards the $98,000 liquidity pool continues to increase.
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This $98,000 area spans both the lower price range and the high liquidity zone where previous bids have accumulated. A significant break above this level could spark fresh demand and increase the likelihood of a reversal towards the $126,000 resistance, potentially continuing Bitcoin’s established macro range.
The current market structure emphasizes range-based action within higher timeframe levels. As long as Bitcoin stays below $126,000 and above $98,000, the broader setup favors rotation trading over sustained trend movements.
Weak midrange performance, declining volume, and lack of impulsive withdrawals suggest downside pressure may continue in the near term. Testing the lower bound allows liquidity to reset before a possible further rally.
What to expect from future price trends
If Bitcoin revisits the $98,000 support with signs of absorption such as more candlesticks or a bullish engulfing structure, this could signal a range-based rebound.
Conversely, if $98,000 fails to generate enough demand, it could lead to further downside expansion, invalidating the broader range and opening up lower support.
For now, the outlook for Bitcoin remains neutral to bearish, with momentum indicators reflecting a decline in buyer momentum.
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